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A  Reprint  of  Economic  Tracts 

Edited  by 

JACOB  H.  HOLLANDER,  Ph.  D. 

Professor  of  Political  Economy 
Johns  Hopkins  University 


Nicholas  Barbon 

on 

A  Discourse  of  Trade 
1690 


CorYRKiHTKO  IftOS,   BV 

THK  JOHNS  HOPKINS  I'KKSS 


S«?i'oiul  impression:  reprinted  hy  the  Planograph  Method,  December,  1934. 


Printed  in  United  Statbs  of  Amebica 


::::> 


INTRODUCTION 

The  careful  researches  of  Professor  Stephen  Bauer  have  thrown 
much  needed  light  upon  the  life  of  Nicholas  Barbon  and  upon 
his  proper  place  in  the  history  of  economic  thought.*    Born  in 
London,  probably  in  1640,  the  son  of  Praisegod  Barebone — "  ana- 
P^      baptist,  leather-seller,  and  politician,"* — he  studied  medicine  at 
Cn    Leyden,  received  a  medical  degree  at  Utrecht  in  1661,  and  was 
I^     admitted  as  an  honorary  fellow  of  the  College  of  Physicians  in 
1664.     After  the  great  fire  of  1666,  he  established  the  first  insur- 
ance office  in  London,  and  participated  actively  in  rebuilding  the 
^^      city.     He  was  a  member  of  Parliament  in  1690,  and  again  in  1695; 
^^      he  founded  and  conducted  a  land  bank  in  1695-96,  and  he  died  in 
;S^      1698,  making  John  Asgill  the  executor  of  his  will,  and  directing 
that  none  of  his  debts  should  be  paid. 

Barbon's  writings  stand  for  the  most  part  in  immediate  relation 
to  the  economic  events  of  the  period  in  which  he  lived.  He 
defended  his  scheme  of  fire  insurance;  he  advocated  building 
extension  in  London;  he  discussed  the  possibilities  of  land-bank- 
ing and  he  contributed  a  remarkable  tract*  to  the  currency 
controversy  of  1696. 

Of  more  general  scope  than  these  semi-controversial  pamphlets 
is  the  essay  here  reprinted.  Of  the  circumstances  under  which 
it  was  written  and  of  the  obscurity  into  which  it  appears  promptly 
to  have  fallen  nothing  is  known.  Less  enthusiastic  critics  will 
dissent  from  Professor  Bauer's  opinions  that  certain  of  its  pass- 
ages place  Barbon  as  an  economist  above  both  Petty  and  Locke, 
and  that  it  contains  the  ablest  refutation  of  the  theory  of  the 
balance  of  trade  previous  to  Hume  and  Adam  Smith.  But  none 
will  deny  that  the  essay  is  surely  entitled  to  reissue  in  accessible 
form,  and  that  Barbon  may  properly  receive,  to  a  greater  degree 
than  has  heretofore  been  accorded  him,  the  attention  of  students 
of  the  development  of  economic  thought  from  Hobbes  to  Hume. 

^ Jahrbiicher  fiir  Nationalokonomie  und  Statistik  (Jena),  Bd. 
XXI  (1890).  N.  F..  pp.  561-590;  also  "  Bart)on  "  In  "Dictionary  of 
Political  Economy"  (ed.  Palgrave),  Vol.  I,  pp.  119-121. 

' "  Praisegod  Barebone  "  In  "  Dictionary  of  National  Biography  " 
(ed.  Stephen),  Vol.  Ill,  p.  151. 

*"  A  Discourse  Concerning  Coining  the  New  Money  lighter.  In 
Answer  to  Mr.  Lock's  Considerations  about  raising  the  Value  of 
Money"  (London,  1696). 


1^67421 


2  Introduction 

The  present  edition  is  a  reprint  of  Barbon's  essay  as  issued  In 
1690.*  The  general  appearance  of  the  title  page  has  been  pre- 
served, the  original  pagination  has  been  indicated  and  a  few  notes 
have  been  appended. 

Baltimobe,  February,  1905. 


*The  formal  collation  of  the  tract  is  as  follows:  Title  page, 
reverse  blank;  Preface,  nine  folios  without  pagination;  Contents, 
one  folio;  Text,  ninety-two  folios.    Size,  small  16mo. 


Difcourfe 


O  F 


TRADE. 


BY 

N.  B.     M.  D. 


LONT>ON, 

Printed  by  Tbo,  Milboum  for 
the  Author,  1690. 


THE 

PREFACE. 

THe  Oreatness  and  Riches  of  the  United  Provinces,  and 
States  of  Venice,  Considered,  with  the  little  Tract 
of  Orotmd  that  belongs  to  either  of  their  Territo- 
RiES,  sufficiently  Demonstrate  the  great  Adva/ntage  and  Profit 
that  Trade  brings  to  a  Nation. 

And  since  the  Old  Ammurdtion  and  Artillery  of  the 
Grecians  and  Eomans  are  grown  out  \\  of  Use;  sv^h  as 
Stones,  Bows,  Arrows,  and  battering  Rams,  with  other  Wooden 
Engines,  which  were  in  all  Places  easily  procured  or  made: 
And  the  Invention  of  Gunpowder  hath  introduced  another 
sort  of  Ammunition  and  Artillery,  whose  Materials  are  made 
of  Minerals,  that  are  not  to  be  found  in  all  Countries;  such  as 
Iron,  Brass,  Lead,  Salt-petre,  and  Brimstone;  and  therefore 
where  they  are  wanting,  must  be  procured  by  TrafficTc.  Tradb  /  y 
is  now  become  as  necessary  to  Preserve  Governments,  as  it  isif 
useful  to  make  them  Rich. 

And  notwithstanding  the  great  Influence,  that  Trade  now 
hath  in  the  Support  and  Welfare  of  \\  States  and  Kingdoms, 
yet  there  is  nothing  more  unknown,  or  that  Men  differ  more 
in  their  Sentiments,  than  about  the  True  Causes  that  raise 
and  promote  Trade. 

LivT,  and  those  Antient  Writers,  whose  elevated  Genius 
set  them  upon  the  Inquiries  into  the  Causes  of  the  Rise  and 
Fall  of  Governments,  have  been  very  exact  in  describing  the 
several  Forms  of  Military  Discipline,  but  take  no  Notice  of 
Trade;  and  Machiavel  a  Modern  Writer,  and  the  best, 
though  he  lived  in  a  Government,  where  the  Family  of 
Medicis  had  advanced  themselves  to  the  Soveraignty  by  their 
Riches,  acquired  by  Merchandizing,  doth  not  mention  Trade, 
as  any  way  \\  interested  in  the  Affairs  of  State;    for  until 


6  Preface 

Trade  became  necessary  to  provide  Weapons  of  War,  it  was 
always  thought  Prejudicial  to  the  Growth  of  Empire,  as  too 
m,uch  softening  the  People  hy  Ease  and  Luxury,  which  made 
their  Bodies  unfit  to  Endure  the  Labour  and  Hardships  of 
War.  And  therefore  the  Romans  who  made  War,  (the  only 
Way  to  Raise  &  Enlarge  their  Dominion)  did  in  the  almost 
Infancy  of  their  Staie,  Conquer  that  Rich  and  Trading  City 
of  Carthage,  though  Defended  by  Hanibal  their  General, 
one  of  the  greatest  Captains  in  the  World:  so  that,  since 
Trade  was  not  in  those  days  useful  to  provide  Magazines  for 
Wars,  an  Account,  of  it  ||  is  not  fly  be  expected  from  those 
Writers.  The  Merchant,  and  other  Traders  who  should  un- 
derstand the  true  Interest  of  Trade,  do  either  not  under- 
stand it,  or  else,  lest  it  might  hinder  their  private  Gain,  will 
not  Discover  it.  Mr.  Munn  a  Merchant,  in  his  Treatise  of 
TRADu'doth  better  set  forth  the  Rule  to  maJce  an  Accomplished 
Merchant,  than  how  it  may  be  most  Profitable  to  the  Nation; 
and  those  Arguments  every  day  met  with  from  the  Traders, 
seem  byassed  with  Private  Interest,  and  run  contrary  to  one 
another,  as  their  Interest  are  opposite. 

The  TxTRKEY-Merchants  Argue  against  the  East-India-  || 
Company,  the  Woollen-'Draper  against  the  Mercers,  and 
the  Upholster  against  the  Cain-Chair-Maker  ;  some  think 
there  are  too  many  Traders,  and  Complain  against  the  Num- 
ber of  Builders  ;  others  against  the  Number  of  Ale-Houses  ; 
some  use  Arguments  for  the  Sole  making  of  particular  Com- 
modities, others  Plead  for  the  Sole  Trading  to  particular 
Countries:  So  that,  if  these  Gentlemens  Reasons  might  prevail 
in  getting  those  Laws  they  so  much  solicite,  {which  all  of 
them  Affirm,  would  be  for  the  Advance  of  Trade,  and  Publick 
Good  of  the  Nation)  there  would  be  but  a  few  Trades  left  for 
the  next  Generation  of  Men  to  be  Em  ||  ploy'd  in,  a  much 
fewer  sorts  of  Goods  to  make,  and  not  a  Corner  of  the  World 
to  Trade  to,  unless  they  purchase  a  License  from  them. 

And  how  fair  and  coiwincing  soever  their  Premises  may 
appear  for  the  Inlarging  and  Advancement  of  Trade,  the 
Conclusions  of  their  Arguments,  which  are  for  Limiting  and 


Preface  7 

Confining  of  it  to  Number,  Persons  and  Places,  are  directly 
opposite  to  the  Inlarging  of  it. 

The  Reasons  why  many  Men  have  not  a  true  Idea  of  Trade, 
is,  Because  they  Apply  their  Thoughts  to  particular  Parts  of 
Trade,  wherein  they  are  chiefly  concerned  in  Interest;  and 
having  \\  found  out  the  best  Rules  and  Laws  for  forming  that 
particular  Part,  they  govern  their  Thoughts  by  the  same 
NOTIONS  in  forming  the  Great  BODY  of  Trade,  and  not 
Reflecting  on  the  different  Rules  of  Proportions  betwixt  the 
Body  and  Parts,  have  a  very  disagreeable  Conception;  and 
like  those,  who  having  learnt  to  Draw  well  an  Eye,  Ear,  Hand, 
and  other  Parts  of  the  Body,  (being  Unskilful  in  the  Laws  of 
Symmetry)  when  they  joyn  them  together,  make  a  very  De- 
formed Body. 

Therefore,  whoever  will  maJce  a  true  Representation  of 
Trade,  mu^t  Dramy  a  rough  Sketch  of  the  Body  and  Parts 
together,  which  \\  though  it  will  not  entertain  with  so  much 
Pleasure  as  a  well-finish't  Piece,  yet  the  Agreeableness  of  the 
Parts  may  be  as  well  discern' d,  and  thereby  such  Measures 
taken,  as  may  best  suit  the  Shape  of  the  Body. 


THE 

CONTENTS. 

OF  Trade  and  the  Stock,  or  Wares  of  Trade. 
Of  the  Quantity  and  Quality  of  Wares. 
Of  the  Value  and  Price  of  Wares. 
Of  Money,  Credit,  and  Interest. 
Of  the  Use  and  Benefit  of  Trade. 
Of  the  Chief  Causes  that  promote  Trade. 
Of  the  Chief  Causes  of  the  Decay  of  Trade,  and  the  Fall  Of 
the  Rents  of  Land. 


A 

DISCOURSE 

OF 

TRADE. 

Of  Trade  and  the  Stock,  or  Wares  of  Trade. 

TEADE  is  the  Making,  and  Selling  of  one  sort  of 
Goods  for  another ;  The  making  is  called  Handy- 
Craft  Trade,  and  the  ma  ||  ker  an  Artificer;  The 2 
Selling  is  called  Merchandizing,  and  the  Seller 
a  Merchant :  The  Artificer  is  called  by  several  Names  from  the 
sort  of  Goods  he  makes.  As  a  Clothier,  Silk-weaver,  Shoo- 
maker,  or  Hatter,  &c.  from  Making  of  Cloth,  Silk,  Shooes,  or 
Hats;  And  the  Merchant  is  distinguished  by  the  Names  of 
the  Countrey  he  deals  to,  and  is  called,  Dutch,  French,  Spanish 
or  Turkey  Merchant. 

The  chief  End  or  Business  of  Trade,  is  to  make  a  profitable 
Bargain:  In  making  of  a  Bargain  there  are  these  things  to 
be  considered;  The  Wares  to  be  Sold,  the  Quantity  and 
Quality  of  those  Wares,  the  Value  or  Price  of  them,  the 
Money  or  Creditj  by  which  the  Wares  are  bought,  the  Interest 
that  relates  to  the  time  of  performing  the  Bargain. 

The  Stock  and  Wares  of  all  ||  Trade  ?ire  the  Animals,  Vegi-  3 
tables,  and  Minerals  of  the  whole  Universe,  whatsoever  the 
Land  or  Sea  produceth.     These  Wares  may  be  divided  into 
Natural  and  Artificial;    Natural  Wares  are  those  which  are 
sold  as  Nature  Produceth  them;  As  Flesh,  Fish,  and  Fruits, 


10  Nicholas  Baepon 

&c.  Artificial  Wares  are  those  which  by  Art  are  Changed  into 
another  Form  than  Nature  gave  them;  As  Cloth,  Calicoes, 
and  wrought  Silks,  &c.  which  are  made  of  Wool,  Flax,  Cotten, 
and  Raw  Silks. 

Both  these  Sorts  of  Wares  are  called  the  Staple  Com- 
moditys  of  those  Countreys  where  they  chiefly  abound,  or  are 
made.  There  are  Different  Climates  of  the  Heavens,  some 
very  Hot,  some  very  Cold,  others  Temperate;  these  Different 
Climates  produce  Different  Animals,  Vegitables,  &  Minerals. 
4 The  Staples  of  the  hot  Coun  ||  try  are  Spices;  the  Staples  of 
the  Cold,  Furrs;  but  the  more  Temperate  Climates  produce 
much  the  same  sorts  of  Commoditys;  but  by  difference  of 
the  Quality  or  Conveniency  of  place  where  they  abound,  they 
become  the  Staple  of  each  Country,  where  they  are  either 
best  or  easier  acquired  or  exchanged :  Thus,  Herrings,  and 
other  Fish  are  the  Staples  of  Holland;  the  Dutch  living 
amongst  the  Water,  are  most  naturally  inclined  to  Fishing: 
English  Wool  being  the  best  in  the  World,  is  the  Staple  of 
England,  for  the  same  reason.  Oyles  of  Italy,  Fruits  of 
Spain,  Wine  of  France,  with  several  other  sorts  of  Com- 
moditys, are  the  Staples  of  their  several  Countrys. 

Staple  Commodities  may  be  divided  into  Native  or  For- 
reign ;  the  Native  Staple  is  what  Each  Country  doth  Naturally 
5  and  best  produce;  Forreign  Sta  ||  pie,  is  any  Forreign  Com- 
modity, which  a  Country  acquires  by  the  sole  Trade  to  a 
Forreign  Place,  or  sole  possession  of  a  particular  Art;  as 
Spices  are  the  Staple  of  Holland;  and  the  making  of  Glass 
and  Paper,  were  the  Staple  of  Venice. 

From  the  Stock,  or  Wares  of  Trade,  these  Three  Things 
are  Observable: 

1.  The  Native  Staple  of  each  Country  is  the  Eiches  of  the 
Country,  and  is  perpetual,  and  never  to  be  consumed ;  Beasts 
of  the  Earth,  Fowls  of  the  Air,  and  Fishes  of  the  Sea,  Nat- 
urally Increase:  There  is  Every  Year  a  New  Spring  and 
Autumn,  which  produceth  a  New  Stock  of  Plants  and  Fruits. 
And  the  Minerals  of  the  Earth  are  Unexhaustable ;  and  if  the 
Natural  Stock  be  Infinite,  the  Artificial  Stock  that  is  made  of 


A  Discourse  of  Trade  11 

the  Natural,  must  be  Infinite,  as  Woollen  and  Linnen  ||  Cloth,  6 
Calicoes,  and  wrought  Silk,  which  are  made  of  Flax,  Wool, 
Cotton,  and  Eaw  Silks. 

This  sheweth  a  Mistake  of  Mr.  Munn,  in  his  Discourse  of  ^ 
Trade,  who  commends  Parsimony,  Frugality,  and  Sumptuary 
Laws,  as  the  means  to  make  a  Nation  Rich;  and  uses  an 
Argument,  from  a  Simile,  supposing  a  Man  to  have  1000  I. 
per  Annum,  and  2000  /.  in  a  Chest,  and  spends  Yearly  1500  I. 
per  Annum,  he  will  in  four  Years  time  Waste  his  2000  1.*  This 
is  true,  of  a  Person,  but  not  of  a  Nation ;  because  his  Estate 
is  Finite,  but  the  Stock  of  a  Nation  Infinite,  and  can  never 
be  consumed;  For  what  is  Infinite,  can  neither  receive  Addi- 
tion by  Parsimony,  nor  suffer"  Diminution,  by  Prodigality.  .^ 

2,  The  Native  Staple  of  Each  Country,  is  the  Foundation 

of  it's  Forreign  Trade:   And  no  Na  ||  tion  have  any  Forreign?        ^ 

Commodities,  but  what  are  at  first  brought  in  by  the  Exchange ^ 

of  the  Native ;  for  at  the  first  beginning  of  Forreign  Trade,  a 
Nation  hath  nothing  else  to  Exchange;  The  Silver  &  Gold 
from  Spain;  the  Silks  from  Turkey,  Oyls  from  Italy,  Wine 
from  France,  and  all  other  Forreign  Goods  are  brought  into 
England,  by  the  Exchange  of  the  English  Cloth,  or  some  other 
Staple  of  England. 

3.  That  Forreign  Staples  are  uncertain  Wealth:  Some 
Countries  by  the  Sole  Trade  to  another  Country,  or  by  the 
Sole  Possession  of  some  Arts,  gain  a  Staple  of  Forreign  Com- 
modities, which  may  be  as  profitable  as  the  Native,  so  long  as 
they  enjoy  the  Sole  possession  of  that  Trade  or  Art.  But 
that  is  uncertain;  for  other  Nations  find  out  the  way  of  ||  8 
Trading  to  the  same  place :  The  Artists  for  Advantage,  Travel 
into  other  Countries,  and  the  Arts  are  discover'd.  Thus  Por- 
tugal had  the  Sole  Trade  of  India;  afterwards  the  Venetians 
got  a  great  Share  of  the  Trade,  and  now  the  Dutch  and 
English,  have  a  greater  share  than  both :  The  Arts  of  making 
several  sorts  of  Silks,  were  chiefly  confined  to  Genoa,  & 
Naples;  afterward  Travelled  into  France,  since  into  England 
and  Holland,  and  are  now  Practised  there  in  as  great  perfec- 
tion as  they  were  in  Italy;   So  have  other  Arts  wander'd,  as 


12  Nicholas  Barbon 

the  making  of  Looking-Glasses  from  Venice  into  England,  the 
making  of  Paper  from  Venice  into  France  and  Holland. 


Of  the  Quantity  and  Quality  of  Wares. 

THE  Quantity  of  all  Wares  are  known  by  Weight  or  Meas- 
ure. The  Season  of  Gravity  is  not  understood,  neither  is 
it  Material  to  this  Purpose ;  Whether  it  proceeds  from  the  Elas- 
tisity  of  the  Air,  or  Weight  of  the  utmost  Spheer,  or  from 
what  other  Causes,  its  sufiBcient,  that  the  ways  of  Trying  the 
Weights  of  Bodies  are  perfectly  discover'd  by  the  Ballance. 
There  are  Two  Sorts  of  Weights  in  Common  Use,  the  Troy, 
and  Averdupois. 

The  First  are  used  to  Weigh  Goods  of  most  Value,  as  Gold, 
Silver   and   Silk,   &c.     The   Latter   for   Coarser,   and   more 

10  Bulky  Goods,  as  Lead,  Iron,  &c.  || 

There  are  Two  Sorts  of  Measures,  the  one  for  Fluid  Bodies, 
as  the  Bushel,  Gallon  and  Quart,  for  Measuring  Corn,  Wine 
and  Oyl;  the  other  for  the  Measuring  the  Dimensions  of 
Solid  Bodies,  as  a  Yard,  Ell,  &c.  to  Measure  Cloth,  Silk.  &c. 

The  Weights  and  Measures  of  all  Countries  differs,  but 
that  is  no  Prejudice  to  Trade;  they  are  all  made  certain  by 
the  Custom  or  Laws  of  the  Place,  and  the  Trader  knows  the 
Weight  or  Measure  in  Use,  in  the  Place  he  Deals  to.  It  is  the 
Care  of  the  Government,  to  prevent  and  punish  the  Fraud  of 
False  Weights  and  Measures,  and  in  most  Trading-Cities, 
there  are  Publick  Weigh-Houses,  and  Measurers:  The  Fraud 
of  the  Ballance,  which  is  from  the  unequal  Length  of  the  end 

11  of  the  Beam,  is  least  perceivable ;  and  therefore  in  Weighing  || 
Goods  of  Value,  they  usually  Weigh  them  in  both  Scales. 

The  Qualities  of  Wares  are  known  by  their  Colour,  Sound, 
Smell,  Taste,  Make,  or  Shape. 

The  Difference  in  the  Qualities  of  Wares  are  very  difficultly 
distinguished;  those  Organs  that  are  the  proper  Judges  of 
those  Differencies,  do  very  much  disagree;  some  Men  have 


A  Discourse  of  Trade  13 

clearer  Eyes,  some  more  distinguishing  Ears,  and  other  nicer 
Noses  and  Tastes;  and  every  Man  having  a  good  Opinion  of 
his  own  Faculties,  it  is  hard  to  find  a  Judge  to  determine 
which  is  best:  Besides,  those  Qualities  that  belong  to  Arti- 
ficial Wares,  such  as  depend  upon  the  Mixture,  Make  or  Shape 
of  them,  are  more  difficultly  discover'd:  Those  Wares,  whose 
Quality  are  produced  by  the  just  Mixture  of  different  Bodies, 
such  as  Knives  and  Eazors,  whose  ||  sharpness  arise  from  the  12 
Good  Temperament  and  Mixture  of  the  Steel  &  Iron,  are  not 
to  be  found  out,  but  by  the  Use  of  them :  And  so  doth  the 
Mixture,  and  well  making  of  Hats,  Cloth,  and  many  other 
things. 

Because  the  Difference  in  the  Qualities  of  Wares,  are  so 
difficultly  understood,  it  is  that  the  Trader  serves  an  Appren- 
ticeship to  learn  them;  and  the  Knowledge  of  them  is  called 
the  Mystery  of  Trade;  and  in  common  Dealing,  the  Buyer  is 
forced  to  rely  on  the  Skill  and  Honesty  of  the  Seller,  to 
deliver  Wares  with  such  Qualities  as  he  affirms  them  to  have : 
It  is  the  Sellers  Interest,  from  the  Expectation  of  further 
Dealing,  not  to  deceive ;  because  his  Shop,  the  Place  of  Deal- 
ing, is  known :  Therefore,  those  Persons  that  buy  of  Pedlars, 
and  Wandering  People,  run  Great  ||  Hazard  of  being  Cheated,  is 

Those  Wares,  whose  Chief  Qualities  consist  in  Shape,  such 
as  all  Wearing  Apparel,  do  not  so  much  depend  upon  the 
Honesty  of  the  Seller;  for  the'  the  Trader  or  Maker,  is  the 
Inventor  of  the  Shape,  yet  it  is  the  Fancy  and  Approbation^ 
of  the  Buyer,  that  brings  it  into  Use,  and  makes  it  pass  for  a 
Fashion. 


Of  the  Value  and  Price  of  Wares. 

THE  Value  of  all  Wares  arise  from  their  Use ;  Things  of  no 
Use,  have  no  Value,  as  the  English  Phrase  is,  They  are 
good  for  nothing. 

The  Use  of  Things,  are  to  supply  the  Wants  and  Necessities 
of  Man :  There  are  Two  General  Wants  that  Mankind  is  born 


14  Nicholas  Barbon 

14  with;  II  the  Wants  of  the  Body,  and  the  Wants  of  the  Mind; 
To  supply  these  two  Necessities,  all  things  under  the  Sun 
become  useful,  and  therefore  have  a  Value. 

Wares,  useful  to  supply  the  Wants  of  the  Body,  are  all 
things  necessary  to  support  Life,  such  are  in  Common  Esti- 
mation ;  all  those  Goods  which  are  useful  to  supply  the  Three 
General  Necessities  of  Man,  Food,  Clothes  and  Lodging;  But 
if  strictly  Examined,  nothing  is  absolutely  necessary  to  sup- 
port Life,  but  Food ;  for  a  great  Part  of  Mankind  go  Naked, 
and  lye  in  Huts  and  Caves;  so  that  there  are  but  few  things 
that  are  absolutely  necessary  to  supply  the  Wants  of  the  Body. 

Wares,  that  have  their  Value  from  supplying  the  Wants  of 
the  Mind,  are  all  such  things  that  can  satisfie  Desire;  Desire 
isimplys  Want:  It  is  the  Appetite  of  the  ||  Soul,  and  is  as  nat- 
ural to  the  Soul,  as  Hunger  to  the  Body. 

The  Wants  of  the  Mind  are  infinite,  Man  naturally  Aspires, 
and  as  his  Mind  is  elevated,  his  Senses  grow  more  refined,  and 
more  capable  of  Delight;  his  Desires  are  inlarged,  and  his 
Wants  increase  with  his  Wishes,  which  is  for  every  thing  that 
is  rare,  can  gratifie  his  Senses,  adorn  his  Body,  and  promote 
the  Ease,  Pleasure,  and  Pomp  of  Life. 

Amongst  the  great  Variety  of  things  to  satisfie  the  Wants 
of  the  Mind,  those  that  adorn  Mans  Body,  and  advance  the 
Pomp  of  Life,  have  the  most  general  Use,  and  in  all  Ages, 
and  amongst  all  sorts  of  Mankind,  have  been  of  Value. 

The  first  Effects  that  the  Fruit  of  the  Tree  of  Knowledge 
wrought  upon  the  Parents  of  Mankind,  was  to  make  them 
16  cloath  themselves,  and  it  has  made  the  most  Visible  ||  Distinc- 
tion of  his  Eace,  from  the  rest  of  the  Creation :  It  is  that  by 
which  his  Posterity  may  write  Man,  for  no  Creatures  adorn 
the  Body  but  Man :  Beside,  the  decking  of  the  Body,  doth  not 
onely  distinguish  Man  from  Beast,  but  is  the  Mark  of  Differ- 
ence and  Superiority  betwixt  Man  and  Man. 

There  was  never  any  part  of  Mankind  so  wild  and  bar- 
barous, but  they  had  Difference  and  Degree  of  Men  amongst 
them,  and  invented  some  things  to  shew  that  Distinction. 

Those  that  Cloathed  with  Skins,  wore  the  Skins  of  those 


A  Discourse  op  Trade  15 

Beasts  that  are  most  difficultly  taken;  thus  Hercules  wore  a 
Lyons  Skin;  and  the  Ermins  and  Sable,  are  still  Badges  of 
Honour.  The  Degree  of  Quality  amongst  the  Affricans,  is 
known  by  the  waste  Cloth,  and  amongst  those  that  go  naked, 
by  adorning  their  Bodies  with  Co  ||  lours,  most  rare  amongst  17 
them,  as  the  Red  was  the  Colour  most  in  Esteem  amongst  the 
Ancient  Britains. 

And  the  most  Ancient  and  best  of  Histories,  the  Bible, 
shews.  That  amongst  the  Civilized  People  of  the  World,  Ear- 
Eings,  Bracelets,  Hoods  and  Vails,  with  Changeable  Suits  of 
Apparel,  were  then  worn :  And  the  same  Ornaments  for  the 
Body  are  still,  and  ever  since  have  been  Worn,  only  differing 
in  Shapes  and  Fashions,  according  to  the  Custom  of  the 
Country. 

The  Shapes  of  Habits  are  much  in  use,  to  denote  the 
Qualities  of  several  men;  but  things  rare  and  difficult  to  be 
obtained,  are  General  Badges  of  Honour:  From  this  Use, 
Pearls,  Diamonds,  and  Precious  Stones,  have  their  Value: 
Things  Eare  are  proper  Ensigns  of  Honour,  because  it  is  ||  18 
Honourable  to  acquire  Things  Difficult. 

The  Price  of  Wares  is  the  present  Value ;  And  ariseth  by  ■ 
Computing  the  occasions  or  use  for  them,  with  the  Quantity 
to  serve  that  Occasion ;  for  the  Value  of  things  depending  on 
the  use  of  them,  the  Over-plitss  of  Those  Wares,  which  are 
more  than  can  be  used,  become  worth  nothing ;  So  that  Plenty, 
in  respect  of  the  occasion,  makes  things  cheap ;  and  Scarcity,  ^ 
dear. 

There  is  no  fixt  Price  or  Value  of  any  thing  for  the  Wares 
of  Trades;  The  Animals,  and  Vegetables  of  the  Earth,  depend 
on  the  Influence  of  Heaven,  which  sometimes  causes  Mur- 
rains, Dearth,  Famine,  and  sometimes  Years  of  great  Plenty ; 
therefore,  the  Value  of  things  must  accordingly  Alter.  Be- 
sides, the  Use  of  most  things  being  to  supply  the  Wants  of  ||  19 
the  Mind,  and  not  the  Necessitys  of  the  Body;  and  those 
Wants,  most  of  them  proceeding  from  imagination,  the  Mind 
Changeth;  the  things  grow  out  of  Use,  and  so  lose  their 
Value. 


16  Nicholas  Barbon 

There  are  two  ways, by. which  the  value  of  things  are  a  little 
guessed  at;  by  the  Price  of  the  Merchant,  and  the  Price  of 
the  Artificer:  The  Price  that  the  Merchant  sets  upon  his 
Wares,  is  by  reckoning  Prime  Cost,  Charges  and  Interest. 

The  Price  of  the  Artificer,  is  by  reckoning  the  Cost  of  the 
Materials,  with  the  time  of  working  them ;  The  Price  of  Time 
is  according  to  the  Value  of  the  Art,  and  the  Skill  of  the 
Artist.  Some  Artificers  Eeckon  Twelve,  others  Fifteen,  and 
some  Twenty,  and  Thirty  Shillings  per  Week. 
20  Interest  is  the  Eule  that  the  ||  Merchant  Trades  by;  And 
Time,  the  Artificer,  By  which  they  cast  up  Profit,  and  Loss; 
for  if  the  Price  of  their  Wares,  so  alter  either  by  Plenty,  or 
by  Change  of  the  Use,  that  they  do  not  pay  the  Merchant 
Interest,  nor  the  Artificer  for  his  Time,  they  both  reckon  they 
lose  by  their  Trade. 

But  the  Market  is  the  best  Judge  of  Value;  for  by  the 
Concourse  of  Buyers  and  Sellers,  the  Quantity  of  Wares,  and 
the  Occasion  for  them  are  Best  known :  Things  are  just  worth 
so  much,  as  they  can  be  sold  for,  according  to  the  Old  Rule, 
Ydlet  Quanium  Vendi  potest. 


Of  Many,  Credit  and  Interest. 

MOny  is  a  Value  made  by  a  Law ;  And  the  Difference  of 
its  Value  is  known  by  the  Stamp,  and  Size  of  the  Piece.  || 

One  Use  of  MONY  is.  It  is  the  Measure  of  Value,  By  which 
the  Value  of  all  other  things  are  reckoned ;  as  when  the  Value 
of  any  thing  is  erpressed,  its  said.  It's  worth  so  many  shillings, 
or  so  many  Pounds :  Another  Use  of  Mony  is ;  It  is  a  Change 
or  Pawn  for  the  Value  of  all  other  Things :  For  this  Reason, 
the  Value  of  Mony  must  be  made  certain  by  Law,  "or  else  it 
could  not  be  made  a  certain  Measure,  nor  an  Exchange  for  the 
Value  of  all  things. 

It  is  not  absolutely  necessary,  Mony  should  be  made  of  Gold 
or  Silver;  for  having  its  sole  Value  from  the  Law,  it  is  not 
Material  upon  what  Metal  the  Stamp  be  set.    Mony  hath  the 


A  Discourse  of  Trade  17 

same  Value,  and  performs  the  same  Uses,  if  it  be  made  of 
Brass,  Copper,  Tin,  or  any  thing  else.  The  Brass  Mony  of 
Spain,  the  Copper  Mony  of  Sweeden,  and  Tin  ||  Farthings  of  23 
England,  have  the  same  Value  in  Exchange,  according  to  the 
Eate  they  are  set  at  and  perform  the  same  Uses,  to  Cast  up  the 
Val'ie  of  things,  as  the  Gold  and  Silver  Mony  does ;  Six  Pence 
in  Farthings  will  buy  the  same  thing  as  Six  Pence  in  Silver ; 
and  the  Value  of  a  thing  is  well  understood  by  saying.  It  is 
worth  Eight  Farthings,  as  that  it  is  worth  Two  Pence:  Gold 
and  Silver,  as  well  as  Brass,  Copper  and  Tin  Mony,  change 
their  Value  in  those  Countries,  where  the  Law  has  no  Force, 
and  yield  no  more  than  the  Price  of  the  Metal  that  bears  the 
STAMP :  Therefore,  all  Foreign  Coins  go  by  Weight,  and  are 
of  no  certain  Value,  but  rise  and  fall  with  the  Price  of  the 
Metal.  Pieces  of  Eight,  yield  sometimes  4  sh.  6  (?.  4  sh.  7  d. 
and  4  sh.  8  d.  as  the  Value  of  Silver  is  higher  or  lower:  ||  And  23 
so  doth  Dollars,  and  all  Forreign  Coin,  change  their  Value; 
and  were  it  not  for  the  Law  that  fixeth  the  Value,  an  English 
Crown  Piece  would  now  yield  Five  Shillings  and  Two  Pence, 
for  so  much  is  the  Value  of  it,  if  it  were  melted,  or  in  a  For- 
eign Country.  But  the  chief  Advantage  of  making  Mony  of 
Silver  and  Gold,  is  to  prevent  Counterfeiting;  for  Silver  and 
Gold,  being  Metals  of  great  Value,  those  who  design  Profit 
by  Counterfeiting  the  Coin,  must  Counterfeit  the  Metals,  aS 
well  as  the  Stamp,  which  is  more  difficult  than  the  Stamp. 
There's  another  Benefit  to  the  Merchant,  by  such  Mony;  for 
Gold  and  Silver  being  Commodities  for  other  Uses,  than  to 
make  Mony;  to  make  Plate,  Gold  &  Silver  Lace,  Silks,  &c. 
And  Coins  of  little  Bulk,  in  respect  of  their  Value,  the  Mer- 1|  24 
chant  transmits  such  Mony  from  Place  to  Place,  in  Specie, 
according  as  he  finds  his  Advantage,  by  the  Else  of  Bulloin; 
though  this  may  be  a  Conveniency  to  the  Merchant,  it  often 
proves  a  Prejudice  to  the  State,  by  making  Mony  scarce: 
Therefore,  there  are  Laws  in  most  Countries,  that  Prohibit 
the  Transportation  of  Mony,  yet  it  cannot  be  prevented;  for 
in  Spain,  though  it  be  Capital,  yet  in  Two  Months  after  the 
Gallions  are  come  home,  there  is  scarce  any  Silver  Mony  to  be 
seen  in  the  Country. 


18  Nicholas  Baebon 

Some  Men  have  so  great  an  Esteem  for  Grold  and  Silver, 
that  they  believe  they  have  an  intrinsick  Value  in  themselves, 
and  cast  up  the  value  of  every  thing  by  them :  The  Eeason  of 
the  Mistake,  is.  Because  Mony  being  made  of  Gold  and  Silver, 

25  they  do  not  distinguish  betwixt  Mony,  ||  and  Gold  and  Silver. 
Mony  hath  a  certain  Value,  because  of  the  Law ;  but  the  Value 
of  Gold  and  Silver  are  uncertain,  &  varies  their  Price,  as 
much  as  Copper,  Lead,  or  other  Metals:  And  in  the  Places 
where  they  are  dug,  considering  the  smalness  of  their  Veins, 
with  the  Charges  of  getting  them,  they  do  not  yield  much 
more  Profit  than  other  Minerals,  nor  pay  the  Miners  better 
Wages  for  digging  them. 

And  were  it  not  for  the  Waste,  made  of  Gi)ld  and  Silver,  by 
Plate,  Lace,  Silks,  and  Guilding,  and  the  Custom  of  the 
Eastern  Princes,  to  lay  them  up  and  bury  them,  that  Half 
which  is  dug  in  the  West,  is  buried  in  the  East.  The  great 
Quantities  dug  out  of  the  Earth,  since  the  Discovery  of  the 
West-Indies,  would  have  so  much  lessened  the  Value,  that 

26  by  this  time,  they  would  not  have  ||  much  exceeded  the  Value 
of  Tin,  or  Copper :  Therefore,  How  greatly  would  those  Gen- 
tlemen be  disappointed,  that  are  searching  after  the  Philoso- 
pher's Stone,  if  they  should  at  last  happen  to  find  it  ?  For,  if 
they  should  make  but  so  great  a  Quantity  of  Gold  and  Silver, 
as  they,  and  their  Predecessors  have  spent  in  search  after  it, 
it  would  so  alter,  and  bring  down  the  Price  of  those  Metals, 
that  it  might  be  a  Question,  whether  they  would  get  so  much 
Over-plus  by  it,  as  would  pay  for  the  Metal  they  change  into 
Gold  and  Silver.  It  is  only  the  Scarcity  that  keeps  up  the 
Value,  and  not  any  Intrinsick  Vertue  or  Quality  in  the 
Metals;  For  if  the  Vertue  were  to  be  considered,  the  Affrican 
that  gives  Gold  for  Knives,  and  Things  made  of  Iron,  would 
have  the  Odds  in  the  Exchange;    Iron  being  a  much  more 

27  Useful  II  Metal,  than  either  Gold  or  Silver.     To  Conclude  this 
/ 1  Objection,  Nothing  in  it  self  hath  a  certain  Value ;  One  thing 

is  as  much  worth  as  another :   And  it  is  time,  and  place,  that 
give  a  difference  to  the  Value  of  all  things. 

Credit  is  a  Value  raised  by  Opinion,  it  buys  Goods  as  Mony 


A  Discourse  of  Trade  19 

doe's ;  and  in  all  Trading  Citys,  there's  more  Wares  sold  upon 
Credit,  then  for  present  Mony. 

-^  There  are  Two  Sorts  of  Credit;  the  one,  is  Grounded  upon 
the  Ability  of  the  Buyer ;  the  other,  upon  the  Honesty :  The 
first  is  called  a  Grood  Man,  which  implys  an  Able  Man;  he 
generally  buys  upon  short  Time;  to  pay  in  a  Month,  which 
is  accounted  as  ready  Mony,  and  the  Price  is  made  accord- 
ingly. The  other  is  accoimted  an  Honest  Man;  He  may  be 
poor;  he  Generally  ||  buys  for  three  and  Six  Months  or  longer,  28 
so  as  to  pay  the  Merchant  by  the  Ketum  of  his  own  Goods; 
and  therefore,  the  Seller  relys  more  upon  the  Honesty  of  the 
Buyer,  than  his  Ability :  Most  of  the  Eetail  Traders  buy  upon 
this  Sort  of  Credit,  and  are  usually  Trusted  for  more  than 
double  they  are  worth. 

In  Citys  of  great  Trade,  there  are  publick  Banks  of  Credit, 
as  at  Amsterdam  and  Venice:  They  are  of  great  Advantage 
to  Trade,  for  they  make  Payments  easie,  by  preventing  the 
Continual  Trouble  of  telling  over  Mony,  and  cause  a  great 
Dispatch  in  Business:  Publick  Banks  are  of  so  great  a  Con- 
cern in  Trade,  that  the  Merchants  of  London,  for  want  of 
such  a  Bank,  have  been  forced  to  Carry  their  Cash  to  Gold- 
Smiths,  and  have  thereby  Kaised  such  a  Credit  upon  Gold-  ||  29 
Smiths  Notes,  that  they  pass  in  Pajrments  from  one  to  another 
like  Notes  upon  the  Bank;  And  although  by  this  way  of 
Credit,  there  hath  been  very  Vast  Sums  of  Mony  lost,  not  less 
then  too  Millions  within  five  and  Twenty  Years,  yet  the  Dis- 
patch and  Ease  in  Trade  is  so  great  by  such  Notes,  that  the 
Credit  is  still  in  some  Measure  kept  up. 

Therefore,  it  is  much  to  be  wondered  at,  that  since  the  City 
of  London  is  the  Largest,  Kichest,  and  Chiefest  City  in  the 
World,  for  Trade ;  Since  there  is  so  much  Ease,  Dispatch,  and 
Safety  in  a  Publick  Bank;  and  since  such  vast  Losses  has 
Happened  for  want  of  it ;  That  the  Merchant  and  Traders  of 
London  have  not  long  before  this  time  Addressed  themselves, 
to  the  Government,  for  the  Establishing  of  a  Publick  Bank. 

The  Common  Objection,  that  ||  a  Publick  Bank  cannot  be  30 
safe  in  a  Monarchy,  is  not  worth  the  Answering;  As  if  Princes 


20  Nicholas  Barbon 

were  not  Governed  by  the  same  Eules  of  Policy,  as  States  are, 
To  do  all  things  for  the  Well-fair  of  the  Subjects,  wherein 
their  own  Interest  is  concerned. 

It  is  True,  in  a  Government  wholly  Dispotical,  whose  Sup- 
port is  altogether  in  it's  Millitary  Forces;  where  Trade  hath 
no  Concern  in  the  Affaires  of  the  State;  Brings  no  Eevenue, 
There  might  be  a  Jealousy,  That  such  a  Bank  might  tempt  a 
Prince  to  Seize  it;  when  by  doing  it,  he  doth  not  Prejudice 
the  Affairs  of  his  Government:  But  in  England,  where  the 
Grovernment  is  not  Dispotical;  But  the  People  Free;  and 
have  as  great  a  Share  in  the  Soveraign  Legislative  Power,  as 
the  Subjects  of  any  States  have,  or  ever  had;    where  the 

31  Customs  II  makes  great  Figures,  in  the  Kings  Exchequer; 
where  Ships  are  the  Bullworks  of  the  Kingdom;  and  where 
the  Flourish  of  Trade  is  as  much  the  Interest  of  the  King  as 
of  the  People,  There  can  be  no  such  Cause  of  Fear :  For,  What 
Objections  can  any  Man  make,  that  his  Mony  in  the  Bank, 
may  not  be  as  well  secured  by  a  Law,  as  his  Property  is  ?  Or ; 
Why  he  should  be  more  afraid  of  Losing  his  Mony,  than  his 
Land  or  Goods? 

Interest  is  the  Eent  of  Stock,  and  is  the  same  as  the  Eent 

of  Land :  The  First,  is  the  Eent  of  the  Wrought  or  Artificial 
Stock ;  the  Latter,  of  the  Unwrought,  or  Natural  Stock. 

Interest  is  commonly  reckoned  for  Mony;  because  the 
Mony  Borrowed  at  Interest,  is  to  be  repayed  in  Mony;  but 

32  this  is  a  mistake;  For  the  Interest  is  ||  paid  for  Stock:  for 
the  Mony  borrowed,  is  laid  out  to  buy  Goods,  or  pay  for  them 
before  bought:  No  Man  takes  up  Mony  at  Interest,  to  lay  it 
by  him,  and  lose  the  Interest  of  it. 

One  use  of  Interest:  It  is  the  Eule  by  which  the  Trader 
makes  up  the  Account  of  Profit  and  Loss;  The  Merchant 
expects  by  Dealing,  to  get  more  then  Interest  by  his  Goods; 
because  of  bad  Debts,  and  other  Hazards  which  he  runs;  and 
therefore,  reckons  all  he  gets  above  Interest,  is  Gain;  all 
under,  Loss ;  but  if  no  more  than  Interest,  neither  Profit,  nor 
Loss. 

Another  use  of  Interest,  is.  It  is  the  measure  of  the  Value 


A  Discourse  of  Trade  21 

_of  the  Rent  of  Land ;  it  sets  the  Price  in  Buying  and  Selling 
of  Land :  For,  by  adding  three  Years  Interest  more  than  is 
in  II  the  Principle,  Makes  the  usual  Value  of  the  Land  of  the  33 
Country;  The  difference  of  three  Year  is  allowed;  Because 
Land  is  more  certain  than  Mony  or  Stock.  Thus  in  Holland, 
where  Mony  is  at  three  per.  Cent,  by  reckoning  how  many 
times  three  is  in  a  Hundred  Pounds,  which  is  Thirty  Three; 
and  Adding  three  Years  more;  makes  Thirty  Six  Years  Pur- 
chase; the  Value  of  the  Land  in  Holland:  And  by  the  same 
Rule,  interest  being  at  six  per  Cent,  in  England,  Land  is 
worth  but  Twenty  Years  Purchase ;  and  in  Ireland,  but  Thir- 
teen; Interest  being  there  at  Ten  per  Cent:  so  that,  accord- 
ing to  the  Rate  of  Interest,  is  that  Value  of  the  Land  in  the 
Country. 

Therefore,  Interest  in  all  Countrys  is  setled  by  a  Law,  to 
make  it  certain;  or  else  it  could  not  ||  be  a  Rule  for  the  Mer-34 
chant  to  make  up  his  Account,  nor  the  Gentleman,  to  Sell  his 
Land  By. 


Of  the  Use  and  Benefit  of  Trade. 

THe  Use  of  Trade  is  to  make,  and  provide  things  Necessary : 
Or  useful  for  the  Support,  Defence,  Ease,  Pleasure,  and 
Pomp  of  Life :  Thus  the  Brewers,  Bakers,  Butchers,  Poulter- 
ers, and  Cooks,  with  the  Apothecaries,  Surgeons,  and  their 
Dependencies  provide  Food,  and  Medicine  for  the  support  of 
Life:  The  Cutlers,  Gun-smiths,  Powder-makers,  with  their 
Company  of  Traders,  make  things  for  Defence;  The  Shoe- 
makers Sadlers,  Couch,  and  Chair-makers,  ||  with  abundance  35 
more  for  the  Ease  of  Life :  The  Perfumers,  Fidlers,  Painters, 
and  Booksellers,  and  all  those  Trades  that  make  things  to 
gratifie  the  Sense,  or  delight  the  Mind,  promote  Pleasure: 
But  those  Trades  that  are  implo/d  to  express  the  Pomp  of 
Life,  are  Infinite;  for,  besides  those  that  adorn  Mans  Body, 
as  the  Glover,  Hosier,  Hatter,  Semstriss,  Taylor,  and  many 
more,  with  those  that  make  the  Materials  to  Deck  it;    as 


22  Nicholas  Baebon 

Clothier,  Silk- Weaver,  Lace-Maker,  Eibbon-Weaver,  with  their 
Assistance  of  Drapers,  Mercers,  and  Milliners,  and  a  Thousand 
more:  Those  Trades  that  make  the  Equipage  for  Servants, 
Trappings  for  Horses;  and  those  that  Build,  Furnish,  and 
Adorn  Houses,  are  innumerable. 

Thus  Busie  Man  is  imployed,  and  it  is  for  his  own  Benefit ; 

86  For  by  Trade,  the  Natural  Stock  of  ||  the  Country  is  improved, 
the  Wool  and  Flax,  are  made  into  Cloth;  the  Skins,  into 
Leather;  and  the  Wood,  Lead,  Iron  and  Tin,  wrought  into 
Thousand  useful  Things:  The  Over-plus  of  these  Wares  not 
useful,  are  transported  by  the  Merchants,  and  Exchanged  for 
the  Wines,  Oyls,  Spices,  and  every  Thing  that  is  good  of 
Forreign  Countries:  The  Trader  hath  One  Share  for  his 
Pains,  and  the  Land-Lord  the  Other  for  his  Rent:  So,  that 
by  Trade,  the  Inhabitants  in  general,  are  not  only  well  Fed, 
Clothed  and  Lodged;  but  the  Richer  sort  are  Furnished  with 
all  things  to  promote  the  Ease,  Pleasure,  &  Pomp  of  Life: 
Whereas,  in  the  same  Country,  where  there's  no  Trade,  the 
Land-Lords  would  have  but  Coarse  Diet,  Coarser  Clothes,  and 
worse  Lodgings ;  and  nothing  for  the  Rent  of  their  Lands,  but 

87  the  II  Homage  and  Attendance  of  their  Poor  Bare-footed 
Tenants,  for  they  have  nothing  else  to  give. 

Trade  Raiseth  the  Rent  of  the  Land,  for  by  the  Use  of  sev- 
eral sorts  of  Improvements,  the  Land  Yieldeth  a  greater  Nat- 
ural Stock;  by  which,  the  Land-lord's  Share  is  the  greater: 
And  it  is  the  same  thing,  whether  his  Share  be  paid  in  Mony, 
or  Goods ;  for  the  Mony  must  be  laid  out  to  Buy  such  Good's : 
Mony  is  an  Immaginary  Value  made  by  a  Law,  for  the  Con- 
veniency  of  Exchange:  It  is  the  Natural  Stock  that  is  the 
Real  Value,  and  Rent  of  the  Land. 

Another  Benefit  of  Trade,  is.  That,  it  doth  not  only  bring 
Plenty,  but  hath  occasioned  Peace:  For  the  Northern  Na- 
tions, as  they  increased,  were  forced  from  the  Necessities  of 

88  their  Climates,  to  Remove;  and  used  to  ||  Destroy,  and  Con- 
quer the  Inhabitants  of  the  Warmer  Climates  to  make  Room 
for  themselves;  thence  was  a  Proverb,  Omne  Malum  ah  Aqui- 
lone:  But  those  Northern  People  being  settled  in  Trade,  the 


A  Discourse  of  Trade  23 

Land  by  their  Industry,  is  made  more  Fertile;  and  by  the 
Exchange  of  the  Nations  Stock,  for  Wines  and  Spices,  of 
Hotter  Climates,  those  Countries  become  most  Habitable;  and 
the  Inhabitants  having  Warmer  Food,  Clothes,  and  Lodgings, 
are  better  able  to  endure  the  Extreamitys  of  their  Cold  Sea- 
sons: This  seems  to  be  the  Reason,  That  for  these  Seven  or 
Eight  Hundred  Years  last  past,  there  has  been  no  such  In- 
vasions from  the  Northern  part  of  the  World,  as  used  to  de- 
stroy the  Inhabitants  of  the  Warmer  Countries:  Besides, 
Trade  AUows  a  better  Price  for  Labourers,  than  is  paid  for 
Fighting:  So  it  is  become  |1  more  the  Interest  of  Mankind  to 89 
live  at  home  in  Peace,  than  to  seek  their  fortunes  abroad  by 
Wars. 

These  are  the  Benefits  of  Trade,  as  they  Relate  to  Man- 
kind ;  those  that  Relate  to  Government,  are  many. 

Trade  Increaseth  the  Revenue  of  the  Government,  by  pro- 
viding an  Imploy  for  the  People :  For  every  Man  that  Works, 
pay  by  those  things  which  he  Eats  and  Wears,  somthing  to 
the  Government.  Thus  the  Excise  and  Custom's  are  Raised, 
and  the  more  every  Man  Earns,  the  more  he  Consumes,  and 
the  King's  Revenue  is  the  more  Increased. 

This  shews  the  way  of  Determining  those  Controversies, 
about  which  sort  of  Goods  are  most  beneficial  to  the  Govern- 
ment, by  their  Making,  or  Importing:  The  sole  difference  is 
from  the  Number  of  hands  implo/d  in  making  them ;  Hence 
the  Importation  of  Raw  ||  Silk,  is  more  Profitable  to  the  Gov- 40 
ernment  than  Gi)ld,  or  Silver ;  Because  there  are  more  Hands 
imployd  in  the  Throwing,  and  Weaving  of  the  First;  than 
there  can  be  in  working  the  Latter. 

Another  Benefit  of  Trade  is.  It  is  Useful  for  the  Defence 
of  the  Government ;  It  Provides  the  Magazines  of  Warr.  The 
Guns,  Powder,  and  Bullets,  are  all  made  of  Minerals,  and  are 
wrought  by  Traders;  Besides,  those  Minerals  are  not  to  be 
had  in  all  Countries ;  The  great  Stock  of  Saltpeter  is  brought 
from  the  East  Indies,  and  therefore  must  be  Imported  by  the 
Merchant,  for  the  Exchange  of  the  Natives  Stock. 

The  last  Benefit  is.  That  Trade  may  be  Assistant  to  the 


24  Nicholas  Baebon 

Inlarging  of  Empire;  and  if  an  Universal  Empire,  or  Do- 

41  minion  of  very  Large  Extent,  can  again  be  rais  ||  ed  in  the 
World,  It  seems  more  probable  to  be  done  by  the  Help  of 
Trade;  By  the  Increase  of  Ships  at  Sea,  than  by  Arms  at 
Land :  This  is  too  large  a  Subject  to  be  here  Treated  of ;  but 
the  French  King's  seeming  Attempt  to  Kaise  Empire  in 
Europe,  being  that  Common  Theam  of  Mens  Discourse,  has 
caused  some  short  Eeflections,  which  will  appear  by  Compar- 
ing the  Difficulty  of  the  one,  with  the  Probability  of  the  other. 

The  Difficulties  of  Raising  a  Dominion  of  very  Large  Ex- 
tent; especially  in  Europe,  are  Many. 

First,  Europe  is  grown  more  Populous  than  formerly,  and 
there  are  more  Fortified  Towns  and  Cities,  than  were  in  the 
time  of  the  Roman  Empire,  which  was  the  last  extended  Do- 
minion; and  therefore,  not  easily  Subjected  to  the  Power  of 

42  any  one  Prince.  || 

Whether  Europe  be  grown  more  Populous,  Solely  by  the 
Natural  Increase  of  Mankind;  There  being  more  Born  than 
Dye,  which  first  Peopled  the  World  ? 

Or,  Whether,  since  the  Inhabitants  of  Europe  being  Ad- 
dicted to  Trade,  the  ground  is  made  more  Fertile,  and  yields 
greater  Plenty  of  Food;  which  hath  prevented  famine,  that 
formerly  destroyed  great  Numbers  of  Mankind:  So  that  no 
great  Famines,  has  been  taken  Notice  of  by  Historians,  in 
these  Last  Three  Hundred  Years? 

Whether  by  Dreining  Great  Bogs,  Lakes,  and  Fens,  and 
Cutting  down  vast  Woods,  to  make  Room  for  the  Increase  of 
Mankind,  the  Air  is  Grown  more  Healthy;  So  that  Plagues, 
and  other  Epidemical  Diseases,  are  not  so  destructive  as  for- 
merly ?   none  so  violent,  as  Procopius  *  and  Wallsingham '  Re- 

43  port,  which  de  ||  stroyed  such  Vast  Numbers  in  Italy,  that 
there  were  not  left  Ten  in  a  Thousand ;  and  in  other  Parts  of 
Europe,  not  enough  alive  to  Bury  the  Dead.  Whereas,  the 
Plague  in  (1665)  the  Greatest  since,  did  not  take  away  the 
Hundredth  Person  in  England,  Holland,  and  other  Countries, 
where  it  Raged? 

Whether,  since  the  Invention  of  Guns  and  Gun-Powder,  so 


A  Discourse  of  Trade  25 

many  Men  are  not  slain  in  the  Wars  as  formerly?  Xerxes 
lost  260000  in  one  Battle  against  the  Grecians;  ALEXAN- 
DER, destroyed  110000  of  Darius' s  Army;  Marius,  slew 
120000  of  the  Cimhri;  and  in  great  Battles,  seldome  less 
than  100000  fell:  But  now  20000  Men  are  accounted  very 
great  Slaughter. 

Wnether,  since  the  Northern  People  have  fallen  on  Trade, 
such  II  vast  Numbers,  are  not  destroyed  by  Invasions?  44 

Whether,  by  all  those  Ways,  or  by  which  of  them  most, 
Europe  is  grown  Populous,  is  not  Material  to  this  Discourse : 
It  is  sufficient  to  shew.  That  the  Matter  of  Fact  is  so,  which 
does  appear  by  comparing  the  Antient  Histories  of  Countries 
with  the  Modern  ? 

In  the  Antient  Descriptions,  the  Countries  are  full  of  Vast 
Woods,  wild  Beasts;  the  Inhabitants  barbarous,  and  as  wild, 
without  Arts,  and  the  Governments  are  like  Colonies,  or  Herds 
of  People:  But  in  the  Modern,  the  Woods  are  cut  down,  and 
the  Lyons,  Bears,  and  wild  Beasts  destroyed ;  no  Flesh-Eaters 
are  left  to  inhabit  with  Man,  but  those  Dogs  and  Cats  that  he 
tames  for  his  Use:  Corn  grows  where  the  Woods  did,  and 
with  the  Timber  ||  are  built  Cities,  Towns  and  Villages;  the 45 
People  are  Cloathed,  and  have  all  Arts  among  them;  and 
those  little  Colonies  and  Families,  are  increased  into  Great 
States  and  Kingdoms ;  and  the  most  undeniable  Proof  of  the 
Increase  of  Mankind  in  England,  is  the  Doom-Day-Book, 
which  was  a  Survey  taken  of  all  the  Inhabitants  of  England, 
in  the  Reign  of  William  the  Conquerour ;  by  which  it  appears, 
that  the  People  of  England  are  increased  more  than  double 
since  that  time:  But  since  the  Mosaical  Hypothesis  of  the 
Increase  of  the  World,  is  generally  believed  amongst  the  Chris- 
tians. And  the  late  Lord  Chief  Justice  Hales,  in  his  Book 
of  the  Origination  of  Mankind,'  hath  eiideavoured  to  satisfie 
all  the  rest  of  the  World.  It  would  be  misspending  of  Time, 
to  use  any  other  Topick  for  the  further  Proof  ||  thereof,  than  46 
what  naturally  follows  in  this  Discourse,  which  is  from  the 
Different  Success  of  Arms,  in  the  Latter  and  Former  Ages. 

In  the  Infancy  of  the  World,  Governments  began  with  little 


86  Nicholas  Baebon 

Families  and  Colonies  of  Men;  so  that,  when  ever  any  Gov- 
ernment arrived  to  greater  Heighth  than  the  rest,  either  by 
the  great  Wisdom  or  Courage  of  the  Governor,  they  after- 
wards grew  a  pace:  It  was  no  Difficulty  for  Ninus,  that  was 
the  oldest  Government,  and  consequently,  the  most  Populous, 
to  begin  the  Assyrian  Empire;  nor  for  his  Successors  to  con- 
tinue and  inlarge  it:  Such  Vast  Armies  of  Cyrus,  Darius, 
Hystospis  and  Xerxes,  the  least  of  their  Forces  amounting  to 
above  500000,  could  not  be  Eesisted,  when  the  World  was  but 

47  thin  Peopled.  || 

These  great  Armies  might  at  first  sight,  seem  to  infer, 
That  the  World  was  more  Populous  than  now;  because  the 
Armies  of  the  greatest  Princes,  seldom  now  exceed  the  Num- 
ber of  Fifty,  or  Sixty  Thousand  Men ;  But  the  Reason  of  those 
great  Numbers,  was.  They  were  not  so  well  Skilled  in  Mili- 
tary Arts,  and  shew  that  the  World  was  in  the  Infancy  of  its 
Knowledge,  rather  than  Populous;  for  all  that  were  able  to 
bear  Arms,  went  to  the  Wars :  And  if  that  were  now  the  Cus- 
tom, there  might  be  an  Army  in  England  of  above  Three 
Million,  allowing  the  Inhabitants  to  be  Seven  Millions;  and 
by  the  same  Proportion,  the  King  of  France's  Country,  (being 
four  Times  bigger)  might  raise  Twelve  Millions;  such  a  Num- 

48  ber  was  never  heard  of  in  this  World.  || 

The  next  Difficulty  against  the  inlarging  of  Empire  by 
Arms,  is.  That  since  Printing,  and  the  Use  of  the  Needle  hath 
been  discovered.  Navigation  is  better  known,  and  thence  is  a 
Greater  Commerce  amongst  Men,  the  Countries  and  Lan- 
guages are  more  understood.  Knowledge  more  dispersed,  and 
the  Arts  of  War  in  all  Places  known;  so  that.  Men  fight  more 
upon  equal  Terms  than  formerly ;  and  like  two  Skilful  Fenc- 
ers, fight  a  long  Time,  before  either  gets  Advantage. 

The  Assyrians  &  Persians  Conquered  more  by  the  Number 
of  Souldiers,  than  Discipline ;  the  Grecians  and  Romans,  more 
by  Discipline  than  Number ;  as  the  World  grew  older,  it  grew 
wiser:  Learning  first  flourished  among  the  Grecians,  after- 
wards among  the  Romans;  and  as  the  Latter  succeeded  in 

49  Learning,  so  they  ||  did  in  EMPIRE.    But  now  both  Parties  are 


A  Discourse  of  Trade  27 

Equally  Disciplin'd  and  Arm'd ;  and  the  Successes  of  War  are 
not  80  great;  Victorj  is  seldom  gained  without  some  Consid- 
erable Loss  to  the  Conquerour. 

Another  Difficulty  to  the  inlarging  of  Dominion  by  Arms, 
is.  That  the  Qoths  Overcoming  the  greatest  Part  of  Europe, 
did  by  their  Form  of  Government,  so  settle  Liberty,  and 
Property  of  Land,  that  it  is  difficult  for  any  PRINCE  to 
Change  that  Form. 

Whether  the  Goths  were  Part  of  the  Ten  Tribes,  as  some 
are  of  Opinion,  and  to  Countenance  their  Conjectures,  have 
Compared  the  Languages  of  the  Inhabitants,  Wales,  Finland 
and  Orchadis,  and  other  Northern  Parts  (little  frequented  by 
Strangers,  which  might  alter  their  Language)  and  ||  find  50 
them  to  agree  with  the  Hebrew  in  many  Words  and  Sound, 
all  their  Speech  being  Guttural.  This  is  certain,  their  Form 
of  Government  seems  framed  after  the  Examples  of  Moses's 
Government  in  the  Land  of  Canaan,  by  dividing  the  Legisla- 
tive Power,  according  to  the  Property  of  Land,  according  to 
that  Antient  Maxim,  That  Dominion  is  founded  upon  Prop- 
erty of  Land.  There  Monarchy  seems  to  be  made  by  an  easie 
Division  of  Land  into  Thirds,  by  a  Conquering  Army,  setting 
down  in  Peace;  the  General  being  King,  has  one  Third;  the 
Colonels  being  the  Lords,  another  Third;  and  the  Captains, 
and  other  Inferiour  Officers  being  Gentlemen,  another;  the 
Common  Souldiers  are  the  Farmers,  and  the  Conquered  are 
the  Villains :  The  Legislative  Power  is  divided  amongst  them, 
according  to  their  ||  Share  in  the  Land;  it  being  necessary 51 
that  those  that  have  Property  of  Land,  should  have  Power  to 
make  Laws  to  Preserve  it. 

There  seems  to  be  but  two  settled  Forms  of  Government;  _ 
The  Turkish,  and  Oothick,  or  English  Monarchy:  They  are 
both  founded  upon  Property  of  Land ;  in  the  First,  the  Prop- 
erty and  Legislative  Power  is  solely  ip  the  Prince;  In  the 
Latter,  they  are  in  both  the  Prince  and  People:  The  one  is 
best  fitted  to  raise  Dominion  by  Armies ;  for  the  Prince  must 
be  Absolute  to  give  Command,  according  to  the  Various  For- 
tunes of  Warr:    The  other  is  Best  for  Trade;  for  men  are 


28  Nicholas  Barbon 

most  industrious,  where  they  are  most  free,  and  secure  to 
injoy  the  Effects  of  their  Labours. 

52  All  other  Sorts  of  Government,  ||  either  Aristocracy,  or 
Democracy,  where  the  Supream  Magistrate  is  Elective,  are 
Imperfect,  Tumultuous,  and  Unsettled :  For  Man  is  Naturally 
Ambitious ;  he  inherits  the  same  Euleing  Spirit  that  God  gave 
to  Adam,  to  Govern  the  Creation  with:  And  the  oftner  that 
the  Throne  is  Empty,  the  oftner  will  Contentions  and  Strug- 
gles Happen  to  get  into  it:  Where  deter  digniori  is  the  Kule, 
Warr  always  Ensues  for  the  Golden  Prize.  Such  Govern- 
ments will  never  be  without  such  Men  as  Marius  and  Scilla, 
to  disturb  them ;  nor  without  such  a  Man  as  Caesar  to  Usurp 
them;  notwithstanding  all  the  Contrivance  for  their  Defence 
by  those  Polititians  who  seems  fond  of  such  Formes  of  Gov- 
ernment. 

The  Gothich  Government  being  a  well  fixed  Form,  and  the 

68  People  so  free  under  it,  is  great  hinde- 1|  drance  to  the  En- 
larging of  Dominion ;  for  a  People  under  a  good  Government 
do  more  Vigorously  Defend  it:  A  free  People  have  more  to 
lose  than  Slaves,  and  their  Success  is  better  Kewarded  than 
by  any  Mercenary  Pay,  and  therefore,  make  a  better  Eesist- 
ance :  It  was  the  Freedom  of  the  Grecians  and  Romans  that 
raised  their  Courage,  and  had  an  equal  Share  in  raising  their 
Empires,  with  their  Millitary  Discipline:  The  free  City  of 
Tyre  put  Alexander  to  more  Trouble  to  Conquer,  than  all  the 
Citys  of  Asia. 

The  People  of  Asia,  living  under  a  Dispotick  Power,  made 
little  Resistance;  Alexander  subdued  Libia,  Phoenicia,  Pam- 
philia,  without  much  Opposition  in  his  Journey  to  meet 
Darius;  Egypt  came  under  Subjection  without  Fighting,  and 

54  80  did  many  Countries,  ||  being  willing  to  Change  the  Persian 
Yoak:  Besides,  he  Fought  but  two  Battles  for  the  whole 
Persian  Empire;  and  the  Resistance  of  those  slavish  People 
was  80  weak,  that  he  did  not  lose  500  Grecians  in  either  of  the 
Battles,  tho'  Darius  Number  far  exceeded  his;  the  one  being 
above  260000,  and  the  other  not  Forty;  And  there  was  as 
great  Disproportion  in  the  Slaughter;  for  at  the  Battle  in 


A  Discourse  of  Trade  29 

Cilicia  he  slew  110000,  and  that  at  Arbela  40000;  whereas,  the 
Spartan,  a  Free  People,  about  the  same  time,  fought  with 
Antipater  his  Vice-Eoy  of  Macedon;  and  in  a  Fight,  where 
neither  Army  exceeded  60000,  slew  1013  of  the  Macedonians, 
which  was  more  than  Alexander  lost  in  both  his  Battles:  So 
great  is  the  Difference  of  fighting  against  a  Free,  and  a 
Slavish  Effeminate  People. 

For  the  same  Seasons,  That  the  ||  World  is  grown  more  55 
Populous,  That  the  Arts  of  War  are  more  known.  That  the 
People  of  Europe  live  under  a  Free  Government.  It  is  as 
difficult  to  keep  a  Country  in  Subjection,  as  to  Conquer  it. 
The  People  are  too  Numerous  to  be  kept  in  Obedience:  To 
destroy  the  greatest  Part,  were  too  Bloody,  and  Inhuman ;  To 
Bum  the  Towns,  and  Villages,  and  so  force  the  People  to 
remove,  Is  to  lose  the  greatest  share  in  Conquest ;  for  the 
People  are  the  Eiches  and  the  Strength  of  the  Country,  And  it 
is  not  much  more  Advantage  to  a  Prince,  to  have  a  Title  to 
Lands,  in  Terra  Incognita,  As  to  Countries  without  People. 

Besides,  Countries  and  Languages  being  more  known;  And 
Mankind  more  acquainted  than  formerly:  The  Oppressed 
People  remove  into  the  next  Country  they  ||  can  find  Shelter  56 
in,  &  become  the  Subjects  of  other  Governments.  By  such 
Addition  of  Subjects,  those  Governments  growing  stronger, 
are  better  able  to  Eesist  the  Incroaches  of  Empire:  So  that, 
every  Conquest  makes  the  next  more  difficult,  from  the  Assist- 
ance of  those  People  before  Conquered;  To  Transplant  the 
Conquered  into  a  Eemote  Country,  as  formerly,  Is  not  to  be 
Practised;  There  is  now  no  Eoom,  the  World  is  so  full  of 
People. 

To  Conquer,  and  leave  them  Free,  only  paying  Tribute  and 
Homage,  Is  the  same  as  not  to  Conquer  them :  For  there  is  no 
Eeason  to  expect  their  Submission  longer,  than  till  they  are 
able  to  Eesist;  which  will  not  be  long  before  they  make  the 
same  Opposition,  if  they  continue  in  the  same  Possession; 
and  therefore,  though  the  Romans  in  the  Infan  ||  cy  of  their  57 
Government,  did  leave  several  Countries  Free,  as  an  Assist- 
ance to  other  CONQUEST;  yet,  when  they  grew  stronger. 


30  Nicholas  Baebon 

they  turned  all  their  Conquest  into  Provinces,  heing  the  surest 
way  to  keep  them  from  Eevolting. 

These  are  the  Difficulties  of  inlarging  Dominion  at  Land, 
but  are  not  Impediments  to  its  Eise  at  Sea :  For  those  Things 
that  Obstruct  the  Growth  of  Empire  at  Land,  do  rather  Pro- 
mote its  Growth  at  Sea,  That  the  World  is  more  Populous, 
is  no  Prejudice,  there  is  Room  enough  upon  the  Sea ;  the  many 
Fortified  Towns  may  hinder  the  March  of  an  Army,  but  not 
the  Sailing  of  Ships :  The  Arts  of  Navigation  being  discovered, 
hath  added  an  Unlimited  Compass  to  the  Naval  Power.  There 
needs  no  Change  of  the  GothicJc  Government;  for  that  best 
58  Agrees  with  such  an  Empire.  || 

The  Ways  of  preserving  Conquests  gain'd  by  Sea,  are  dif- 
ferent from  those  at  Land.  By  the  one,  the  Cities,  Towns  and 
Villages  are  burnt,  to  thin  the  People,  that  they  may  be  the 
easier  Governed,  and  kept  into  Subjection;  by  the  other,  the 
Cities  must  be  inlarged,  and  New  ones  built :  Instead  of  Ban- 
ishing the  People,  they  must  be  continued,  in  their  Possession, 
or  invited  to  the  Seat  of  Empire ;  by  the  one,  the  Inhabitants 
are  inslaved,  by  the  other,  they  are  made  Free :  The  Seat  of 
such  an  Empire,  must  be  in  an  Island,  that  their  Defence 
may  be  solely  in  Shipping;  the  same  way  to  defend  their 
Dominion,  as  to  inlarge  it. 

To  Conclude,  there  needs  no  other  Argument,  That  Empire 
may  be  raised  sooner  at  Sea,  than  at  Land ;  than  by  observing 
69  the  Growth  of  the  United  Provinces,  \\  within  One  Hundred 
Years  last  past,  who  have  Changed  their  Style,  from  Poor 
Distressed,  into  that  of  High  and  Mighty  States  of  the  United 
Provinces:  And  Amsterdam,  that  was  not  long  since,  a  poor 
Fisher-Town,  is  now  one  of  the  Chief  Cities  in  Europe;  and 
within  the  same  Compass  of  Time,  that  the  Spaniard  &  French 
have  been  endeavouring  to  Raise  an  Universal  Empire  upon 
the  Land ;  they  have  risen  to  that  Heighth,  as  to  be  an  equal 
Match  for  either  of  them  at  Sea ;  and  were  their  Government 
fitted  for  a  Dominion  of  large  Extent,  and  their  Country  sepa- 
rated from  their  Troublesome  Neighbour  the  Continent,  which 
would  Free  them  from  that  Military  Charge  in  defending 


A  Discourse  of  Trade  31 

themselves,  they  might,  in  a  short  Time,  Contend  for  the 
Soveraignity  of  the  Seats. 

But  England  seems  the  Properer  ||  Seat  for  such  an  Empire :  60 
It  is  an  Island,  therefore  requires  no  Military  Force  to  de- 
fend it.  Besides,  Merchants  and  Souldiers  never  thrive  in 
the  same  Place;  It  hath  many  large  Harbours  fitting  for  a 
large  Dominion:  The  Inhabitants  are  naturally  Couragious, 
as  appears  from  the  Effects  of  the  Climate,  in  the  Game  Cocks, 
and  Mastiff  Dogs,  being  no  where  else  so  stout:  The  Mon- 
archy is  both  fitted  for  Trade  and  Empire.  And  were  there 
an  Act  for  a  General  Naturalization,  that  all  Forreigners, 
purchasing  Land  in  England^  might  Enjoy  the  Freedom  of 
Englishmen,  It  might  within  much  less  Compass  of  Time, 
than  any  Government  by  Arms  at  Land,  arrive  to  such  a 
Dominion :  For  since,  in  some  Parts  of  Europe,  Mankind  is 
harrassed  and  disturbed  with  Wars;  Since,  some  Governours 
have  incroached  upon  the  Eights  of  their  ||  Subjects,  and  in- 61 
slaved  them ;  Since  the  People  of  England  enjoy  the  Largest 
Freedoms,  and  Best  Government  in  the  World;  and  since  by 
Navigation  and  Letters,  there  is  a  great  Commerce,  and  a 
General  Acquaintance  among  Mankind,  by  which  the  Laws 
and  the  Liberties  of  all  Nations,  are  known;  those  that  are 
oppressed  and  inslaved,  may  probably  Eemove,  and  become 
the  Subjects  of  England:  And  if  the  Subjects  increase,  the 
Ships,  Excise  and  Customs,  which  are  the  Strength  and 
Eevenue  of  the  Kingdom,  will  in  Proportion  increase, -which 
may  be  so  Great  in  a  short  TIME,  not  only  to  preserve  its 
Antient  Soveraignty  over  the  Narrow  Seas,  but  to  extend  its 
Dominion  over  all  the  Great  Ocean :  An  Empire,  not  less 
Glorious,  &  of  a  much  larger  Extent,  than  either  Alexander's 
or  Ceasar's.  ||  63 

Of  the  Chief  Causes  that  Promote  Trade. 

THE  Chief  Causes  that  Promote  Trade,  (not  to  mention 
Good  Government,  Peace,  and  Scituation,  with  other  Ad- 
vantages) are  Industry  in  the  Poor,  and  Liberality  in  the  Eich : 


32  Nicholas  Barbon 

Liberality,  is  the  free  Usage  of  all  those  things  that  are 
made  by  the  Industry  of  the  Poor,  for  the  Use  of  the  Body 
and  Mind;  It  Kelates  chiefly  to  Man's  self,  but  doth  not 
hinder  him  from  being  Liberal  to  others. 

The  Two  Extreams  to  this  Vertue,  are  Prodigality  and 
Covetousness :  Prodigality  is  a  Vice  that  is  prejudicial  to  the 
Man,  but  not  to  Trade;  It  is  living  a  pace,  and  spending  that 

63 in  a  Year,  that  should  last  all  his  ||  Life:  Covetousness  is  a 
Vice,  prejudicial  both  to  Man  &  Trade;  It  starves  the  Man, 
and  breaks  the  Trader;  and  by  the  same  way  the  Covetous 
Man  thinks  he  grows  rich,  he  grows  poor;  for  by  not  con- 
suming the  Goods  that  are  provided  for  Man's  Use,  there 
ariseth  a  dead  Stock,  called  Plenty,  and  the  Value  of  those 
Goods  fall,  and  the  Covetous  Man's  Estates,  whether  in  Land, 
or  Mony,  become  less  worth:  And  a  Conspiracy  of  the  Eich 
Men  to  be  Covetous,  and  not  spend,  would  be  as  dangerous  to 
a  Trading  State,  as  a  Forreign  War;  for  though  they  them- 
selves get  nothing  by  their  Covetousness,  nor  grow  the  Eicher, 
yet  they  would  make  the  Nation  poor,  and  the  Government 
great  Losers  in  the  Customs  and  Excises  that  ariseth  from 

64  Expence.  || 

Liberality  ought  Chiefly  to  be  Exercised  in  an  equal  Division 
of  the  Expence  amongst  those  things  that  relate  to  Food, 
Cloaths,  and  Lodging;  according  to  the  Portion,  or  Station, 
that  is  allotted  to  every  Man,  with  some  allowance  for  the 
more  refined  Pleasures  of  the  Mind ;  with  such  Distributions, 
as  may  please  both  sect  of  Philosophers,  Platonist  and  Epi- 
cureans: The  Belly  must  not  be  starved  to  cloath  the  Back- 
Part. 
Those  Expences  that  most  Promote  Trade,  are  in  Cloaths 


and  Lodging:  In  Adorning  the  Body  and  the  House,  There 
are  a  Thousand  Traders  Imploy'd  in  Cloathing  and  Decking 
the  Body,  and  Building,  and  Furnishing  of  Houses,  for  one 
that  is  Imploy'd  in  providing  Food.  Belonging  to  Cloaths,  is 
65  Fashion ;  which  is  the  Shape  or  Form  of  Apparel.  || 

In  some  places,  it  is  fixt  and  certain ;  as  all  over  Asia,  and 
in  Spain;  but  in  France,  England,  and  other  places,  the  Dress 


A  Discourse  of  Trade  33 

alters;  Fashion  or  the  alteration  of  Dress,  is  a  great  Pro- 
moter of  Trade,  because  it  occasions  the  Expence  of  Cloaths, 
before  the  Old  ones  are  worn  out:  It  is  the  Spirit  and  Life 
of  Trade;  It  makes  a  Circulation,  and  gives  a  Value  by 
Turns,  to  all  sorts  of  Commodities;  keeps  the  great  Body  of 
Trade  in  Motion ;  it  is  an  Invention  to  Dress  a  Man,  as  if  he 
Lived  in  a  perpetual  Spring;  he  never  sees  the  Autum  of  his 
Cloaths :  The  following  of  the  Fashion,  Is  a  Eespect  paid  to 
the  Prince  and  his  Court,  by  approving  his  Choice  in  the 
shape  of  the  Dress.  It  lyes  under  an  ill  Name  amongst  many 
Grave  and  Sober.  People,  but  without  any  Just  Cause ;  for 
those  that  Exclaim  against  the  ||  Vanity  of  the  New  Fashion,  66 
and  at  the  same  time,  commend  the  Decency  of  the  Old  one, 
forget  that  every  Old  Fashion  was  once  New,  and  then  the 
same  Argument  might  have  been  used  against  it.  And  if  an 
Indian,  or  Stranger,  that  never  saw  any  person  Cloathed  be- 
fore, were  to  be  Judge  of  the  Controversy,  and  were  to  Deter- 
min  upon  seeing  at  the  same  time  a  well  Dr est- Courtier  in 
the  New  Fashion,  and  another  in  the  Old,  which  is  accounted 
Decent;  and  a  third  in  the  Eobes  of  an  Officer,  which  by 
common  Esteem,  had  a  Eeverence:  It  will  be  Two  to  One, 
against  any  One  of  the  Grave  Fashions ;  for  it's  only  Use  and 
Custom  by  which  Habits  become  Grave  and  Decent,  and  not 
any  particular  Conveniency  in  the  shape;  for  if  Conveniency 
were  the  Eule  of  Commendation,  there  would  arise  ||  a  Ques-67 
tion  not  Easily  to  be  Determined,  Whether  the  Spanish  Garb 
made  strait  to  the  Body,  or  the  loose  Habit  of  the  Turks,  were 
to  be  Chosen?  And  therefore  since  all  Habits  are  equally 
handsome,  and  hard  to  know  which  is  most  Convenient :  The 
Promoting  of  New  Fashions,  ought  to  be  Encouraged,  because 
it  provides  a  Livelihood  for  a  great  Part  of  Mankind. 

The  next  Expence  that  chiefly  promotes  Trade,  is  Building, 
which  is  natural  to  Mankind,  being  the  making  of  a  Nest  or 
Place  for  his  Birth,  it  is  the  most  proper  and  vible  Distinction 
of  Eiches,  and  Greatness ;  because  the  Expences  are  too  Great 
for  Mean  Persons  to  follow.  It  is  a  Pleasure  fit  to  entertain 
Princes;  for  a  Magnificent  Structure  doth  best  represent  the 


34  Nicholas  Barbon 

Majesty  of  the  Person  that  lives  in  it,  and  is  the  most  lasting 

68  and  II  truest  History  of  the  Greatness  of  his  Person. 

Building  is  the  chiefest  Promoter  of  Trade^;  it  Imploys  a 
greater  Number  of  Trades  and  People,  than  Feeding  or 
Cloathing:  The  Artificers  that  belong  to  Building,  such  as 
Bricklayers,  Carpenters,  Plaisterers,  &c.  imploy  many  Hands ; 
Those  that  make  the  Materials  for  Building,  such  as  BricJcs, 
Lyme,  Tyle,  &c.  imploy  more;  and  with  those  that  Furnish 
the  Houses,  such  as  Upholsterers,  Pewterers,  &e.  they  are 
almost  Innumerable. 

In  Holland,  where  Trade  hath  made  the  Inhabitants  very 
Eich,  It  is  the  Care  of  the  Government,  to  Incourage  the 
Builder,  and  at  the  Charge  of  the  State,  the  Grafts  and 
Streets   are   made.      And   at   Amsterdam,   they   have   three 

69  Times,  at  great  Expence,  Thrown  down  the  Walls  of  their  || 
City,  and  Dreined  the  Boggs,  to  make  Eoom  for  the  Builder : 
For  Houses  are  the  Places  where  the  Artificers  make  their 
Goods,  and  Merchants  Sell  them;  and  without  New  Houses, 
the  Trades  and  Inhabitants  could  not  Increase. 

Beside,  There  is  another  great  Advantage  to  Trade,  by 
Enlarging  of  Cities;  the  Two  Beneficial  Expences  of  Cloath- 
ing and  Lodging,  are  Increased ;  Man  being  Naturally  Ambi- 
tious, the  Living  together,  occasion  Emulation,  which  is  seen 
by  Out- Vying  one  another  in  Apparel,  Equipage,  and  Furni- 
ture of  the  House;  whereas,  if  a  Man  lived  Solitary  alone, 
his  chiefest  Expence,  would  be  Food.  It  is  from  this  very 
Custom ;  If  the  Gentry  of  France  Living  in  Cities,  with  the 
Invention  of  Fashion;  That  France,  tho'  a  Country  no  way 
70 fitted  for  Trade,  has  so  great  a  share  ||  of  it:  It  is  from  Fash- 
ion in  Cloaths,  and  Living  in  Cities,  That  the  King  of  France's 
Eevenues  is  so  great,  by  which  he  is  become  troublesome  to 
his  Neighbours,  and  will  always  be  so,  while  he  can  preserve 
Peace  within  his  own  Country ;  by  which,  those  Fountains  of 
Eiches,  may  run  Interrupted  into  his  Exchequer. 


71 


A  Discourse  of  Trade  35 

Of  the  Chief  Causes  of  the  Decay  of  Trade  in 
England,  and  Fall  of  the  Rents  of  Land. 

THE  Two  Chief  Causes  of  the  Decay  of  Trade,  are  the 
many  Prohibitions  and  high  Interest. 

The  Prohibition  of  Trade,  is  the  Cause  of  its  Decay;  for 
all  Forreign  Wares  are  brought  in  by  the  Exchange  of  the 
Native :  So  that  the  Prohibiting  of  any  Foreign  Commodity, 
doth  hinder  the  Making  and  Exportation  of  so  much  of  the 
Native,  as  used  to  be  Made  and  Exchanged  for  it.  The  Arti- 
ficers and  Merchants,  that  Dealt  in  such  Goods,  lose  their 
Trades;  and  the  Profit  that  was  gained  by  such  Trades,  and 
laid  out  amongst  other  Traders,  is  Lost.  The  Native  Stock 
for  want  of  such  Ex  ||  portation,  Falls  in  Value,  and  the  73 
Eent  of  the  Land  must  Fall  with  the  Value  of  the  Stock. 

The  common  Argument  for  the  Prohibiting  Foreign  Com- 
modities, is.  That  the  Bringing  in,  and  Consuming  such  For- 
eign Wares,  hinders  the  Making  and  Consuming  the  like  sort 
of  Goods  of  our  own  Native  Make  and  Growth;  therefore 
Flanders-L&ce,  French-'H.sits,  Gloves,  Silks,  Westphalia-Bacon, 
&c.  are  Prohibited,  because  it  is  supposed,  they  hinder  the 
Consumption  of  EngUsh-La,ce,  Gloves,  Hats,  Silk,  Bacon,  &c. 
But  this  is  a  mistaken  Eeason,  and  ariseth  by  not  considering 
what  it  is  that  Occasions  Trade.  It  is  not  Necessity  that 
causeth  the  Consumption,  Nature  may  be  Satisfied  with  little ; 
but  it  is  the  wants  of  the  Mind,  Fashion,  and  desire  of  Novel- 
ties, and  Things  scarce,  that  causeth  ||  Trade.  A  Person  may  73 
have  English-Lsice,  Gloves,  or  Silk,  as  much  as  he  wants,  and 
will  Buy  no  more  such ;  and  yet,  lay  out  his  Mony  on  a  Point 
of  Venice,  Jessimine-Glovea,  or  French-Silks;  he  may  desire 
to  Eat  Westphalia-B&con,  when  he  will  not  English;  so  that, 
the  Prohibition  of  Forreign  Wares,  does  not  necessarily  cause 
a  greater  Consumption  of  the  like  sort  of  English. 

Besides,  There  is  the  same  wants  of  the  Mind  in  Foreigners, 
as  in  the  English;  they  desire  Novelties;  they  Value  English- 
Cloth.,  Hats,  and  Gloves,  and  Foreign  Goods,  more  than  their 


36  Nicholas  Barbon 

Native  make;  so  that,  tho'  the  Wearing  or  Consuming  of 
Forreign  Things,  might  lessen  the  Consuming  of  the  same 
sort  in  England;  yet  there  may  not  be  a  lesser  Quantity  made ; 

74  and  if  the  same  Quantity  be  made,  it  ||  will  be  a  greater  Ad- 
vantage to  the  Nation,  if  they  are  Consumed  in  Foreign  Coun- 
tries, than  at  Home;  because  the  Charge,  and  Imploy  of  the 
Freight,  is  Gained  by  it,  which  in  bulky  Goods,  may  be  a 
Fourth  Part  of  the  whole  Value. 

The  particular  Trades  that  expect  an  Advantage  by  such 
Prohibition,  are  often  mistaken;  For  if  the  Use  of  most 
Commodities  depending  upon  Fashion,  which  often  alters; 
The  Use  of  those  Goods  cease.  As  to  Instance,  Suppose  a 
Law  to  Prohibit  Cane-Chairs;  It  would  not  necessarily  fol- 
low. That  those  that  make  TurTcei/-WoTk  Chairs,  would  have 
a  better  Trade.  For  the  Fashion  may  Introduce,  Wooden, 
Leather,  or  Silk  Chairs,  (which  are  already  in  Use  amongst 
tne  Gentry,  The  Cane-Chairs  being  grown  too  Cheap  and 

75  Common)  ||  or  else,  they  may  lay  aside  the  Use  of  all  Chairs, 
Introducing  the  Custom  of  Lying  upon  Carpets ;  the  Ancient 
Roman  Fashion;  still  in  Use  amongst  the  Turks,  Persians, 
and  all  the  Eastern  Princes. 

Lastly,  If  the  Suppressing  or  Prohibiting  of  some  sorts  of 
Goods,  should  prove  an  Advantage  to  the  Trader,  and  Increase 
the  Consumption  of  the  same  sort  of  our  Native  Commodity : 
Yet  it  may  prove  a  Loss  to  the  Nation.  For  the  Advantage 
to  the  Nation  from  Trade,  is,  from  the  Customs,  and  from 
those  Goods  that  Imploys  most  Hands.  So  that,  tho'  the 
Prohibition  may  Increase,  as  the  Consumption  of  the  like 
sort  of  the  Native ;  yet  if  it  should  Obstruct  the  Transporting 
of  other  Goods  which  were  Exchanged  for  them,  that  Paid 
"fimore  Custom,  Freight,  or  Imployed  more  Hands  in  ||  making; 
The  Nation  will  be  a  loser  by  the  Prohibition :  As  to  Instance, 
If  Tobacco  or  Woollen-Cloth  were  used  to  Exchange  for 
Westphaly-Bsieon,  The  Nation  loseth  by  the  Prohibition,  tho' 
it  should  Increase  the  Consumption  of  English-Ba,con ;  be- 
cause the  First,  Pays  more  Freight,  and  Custom;  and  the 
Latter,  Imploys  more  Hands.     By  this  Eule  it  appears.  That 


A  Discourse  of  Trade  37 

the  Prohibiting  of  all  unwrought  Goods,  such  as  raw  Silk, 
Cotton,  Flax,  &c.  and  all  Bulky  Goods;  such  as  Wines,  Oyls, 
Fruits,  &c.  would  be  a  Loss  to  the  Nation;  because  nothing 
can  be  sent  in  Exchange  that  Imploys  fewer  Hands  than  the 
First,  or  Pays  greater  Freight  than  the  Latter, 

It  doth  not  alter  the  Case,  If  the  Ballance  of  the  Account, 
or  all  the  Foreign  Goods,  were  bought  by  Silver  or  Gold; 
For  II  Silver  and  Gold,  are  Foreign  Commodities;  Pay  but 77 
little  Freight,  and  Imploy  but  few  Hands  in  the  Working; 
And  are  at  First  brought  into  England,  by  the  Exchange  of 
some  Native  Goods,  and  having  Paid  for  their  coming  hither, 
must  Pay  for  the  Carriage  out.  It  is  true.  That  if  our  Serge, 
Stuffs,  or  Cloth,  are  Exchanged  for  Unmanufactured  Goods, 
it  would  be  a  greater  Advantage  to  the  Nation,  because  of  the 
difference  in  Number  of  Hands  in  the  making  of  the  First, 
and  the  Later. 

But  all  Trading  Countries  Study  their  Advantage  of  Trade, 
and  Know  the  difference  of  the  Profit  by  the  Exchange  of 
wrought  Goods,  for  unwrought:  And  therefore,  for  any 
Nation  to  make  a  Law  to  Prohibit  all  Foreign  Goods,  but  such 
only  as  are  most  Advantageous;  Is  to  put  other  ||  Nations 78 
upon  making  the  same  Laws;  and  the  Consequence  will  be 
to  Euine  all  Foreign  Trade.  For  the  Foundation  of  all  For- 
reign  Trade,  is,  from  the  Exchange  of  the  Native  Commodities 
of  each  Country,  for  one  another. 

To  Conclude,  If  the  bringing  in  of  Foreign  Goods,  should 
hinder  the  making  and  consuming  of  the  Native,  which  will 
very  seldom  happen ;  this  disadvantage  is  not  to  be  Remedied 
by  a  Prohibition  of  those  Goods;  but  by  Laying  so  great 
Duties  upon  them,  that  they  may  be  always  Dearer  than  those 
of  our  Country  make :  The  Dearness  will  hinder  the  common 
Consumption  of  them,  and  preserve  them  for  the  Use  of  the 
Gentry,  who  may  Esteem  them,  because  they  are  Dear;  and 
perhaps,  might  not  Consume  more  of  the  En  \\  glish  Growth,  79 
were  the  other  not  Imported.  By  such  Duties,  the  Revenue 
of  the  Crown,  will  be  Increased;  And  no  Exceptions  can  be 
taken  by  any  Foreign  Prince,  or  Government;   Since  it  is  in 


*m^'^ 


G7421 


38  Nicholas  Barbon 

the  Liberty  of  every  Government,  To  Lay  what  Duty  or  Impo- 
sition they  please.  Trade  will  continue  Open,  and  Free ;  and 
the  Traders,  Enjoy  the  Profit  of  their  Trade:  The  Dead  Stock 
of  the  Nation,  that  is  more  than  can  be  Used,  will  be  Carried 
off,  which  will  keep  up  the  Price  of  the  Native  Stock,  and  the 
Rent  of  the  Land. 

The  next  Cause  of  the  Decay  of  TRADE  in  England,  and  the 
Fall  of  Bents,  is.  That  Interest  is  higher  in  England,  than  in 
Holland,  and  other  places  of  great  Trade :  It  is  at  Six  per  Cent. 
in  England,  and  at  Three  in  Holland;    For  all  Merchants 

80  that  II  Trade  in  the  same  sort  of  Goods,  to  the  same  Ports, 
shoidd  Trade  by  the  same  Interest. 

Interest  is  the  Rule  of  Buying  and  Selling :  And  being  higher 
in  England,  than  in  Holland;  The  English  Merchant  Trades 
with  a  Disadvantage,  because  he  cannot  Sell  the  same  sort  of 
Goods  in  the  same  Port,  for  the  same  Value  as  the  Dutch 
Merchant.  The  Dutch  Merchant  can  Sell  100  I.  worth  of 
Goods,  for  103  I.  And  the  English  Merchant  must  Sell  the 
same  sort,  for  106  I.  to  make  the  same  Account  of  Principal 
and  Interest. 

When  Sir  Thomas  Oresham  had  almost  the  sole  Trade  of 
Spain,  and  the  Twr^-Company  the  sole  Selling  of  Cloth  into 
TurTcy,  and  several  other  places;  The  Difference  of  Interest 
was  then,  no  prejudice  to  Trade,  tho'  Interest  was  then  in 

i\  England,  at  Eight  ||  per  Cent.  Because,  whoe're  has  the  sole 
Trade  to  a  place,  may  set  what  Price  he  pleaseth  upon  his 
Goods :  But  now.  Trade  is  dispersed,  the  same  sort  of  Manu- 
facture, is  made  in  several  Countries.  The  Dutch  and  English 
Merchants,  Trade  in  the  same  sort  of  Goods,  to  the  same  For- 
reign  Parts,  and  therefore  they  ought  to  Deal  by  the  same 
Interest,  which  is  the  Measure  of  Trade. 

Besides,  And  the  English  Merchant  hath  the  same  Disad- 
vantage in  the  Return  of  the  Goods  he  Buys;  for  the  Dutch 
Merchant  making  his  Return  in  the  same  sort  of  Goods,  can 
under-Sell  him. 

By  this  Difference  of  Interest,  Holland  is  become  to  be  the 
great  Magazine,  and  Store-House  of  this  Part  of  Europe,  for 


A  Discourse  of  Trade  39 

all  sorts  of  Goods:    For  they  may  be  laid  up  Cheaper  in  ||  82 
Holland,  than  in  England. 

It  is  impossible  for  the  Merchant  when  he  has  Bought  his 
Goods,  To  know  what  he  shall  Sell  them  for:  The  Value  of 
them,  depends  upon  the  Difference  betwixt  the  Occasion  and 
the  Quantity ;  tho'  that  be  the  Chiefest  of  the  Merchants  Care 
to  observe,  yet  it  Depends  upon  so  many  Circumstances,  that 
it's  impossible  to  know  it.  Therefore  if  the  plenty  of  the 
Goods,  has  brought  down  the  Price;  the  Merchant  layeth 
them  up,  till  the  Quantity  is  consumed,  and  the  Price  riseth. 
But  the  English  Merchant,  cannot  lay  up  his,  but  with  Disad- 
vantage; for  by  that  time,  the  Price  is  risen  so  as  to  pay 
Charges  and  Interest  at  Six  per  Cent,  the  same  Goods  are 
sent  for  from  Holland,  and  bring  down  the  Price:  For  they 
are  laid  up  there,  at  Three  per  Cent,  and  1|  can  therefore  be  83 
Sold  Cheaper. 

For  want  of  Considering  this,  in  England,  many  an  English 
Merchant  has  been  undone ;  for,  though  by  observing  the  Bill 
of  Lading,  he  was  able  to  make  some  Guess  of  the  Stock  that 
was  Imported  here;  and  therefore,  hath  kept  his  Goods  by 
him  for  a  Eise:  But  not  knowing  what  Stock  there  was  in 
Holland,  hath  not  been  able  to  sell  his  Goods  to  Profit,  the 
same  Goods  being  brought  from  thence  before  the  Price  riseth 
high  enough  to  pay  Ware-House-Room,  and  Interest. 

So  that,  now  the  great  part  of  the  English  Trade  is  driven 
by  a  quick  Return,  every  Day  Buying  and  Selling,  according 
to  a  Bill  of  Rate  every  day  Printed.  By  this  Means,  the 
English  Trade  is  narrowed  and  confined,  and  the  King  loseth 
the  Revenue  II  of  Importation,  which  he  would  have,  if  84 
England  were  the  Magazine  of  Europe;  and  the  Nation  loseth 
the  Profit,  which  would  arise  from  the  Hands  imploy'd  in 
Freight  and  Shipping. 

Interest  being  so  high  in  England,  is  the  Cause  of  the  Fall 
of  Rents ;  for  Trade  being  confined  to  a  Quick  Return :   And 
the  Merchant  being  not  able  to  lay  up  Foreign  Goods,  at  the 
same  Interest  as  in  Holland,  he  Exports  less  of  the  Native; — , 
and  the  Plenty  of  the  Native  Stock  Brings  down  the  Rent  of 


40  Nicholas  Babbon 

Land;  for  the  rest  of  the  Land  that  produceth  the  Stock, 
must  fall,  as  the  Price  of  the  Stock  doth. 

Whereas,  if  Interest  were  at  the  same  Eates  as  in  Holland, 

I  at  Three  per  Cent,  it  would  make  the  Rent  more  certain,  and 
raise  the  Value  of  the  Land. 

8S  This  Difference  of  Three  per  \\  Cent,  is  so  Considerable,  that 
many  Dutch  Merchants  Living  in  Holland,  having  Sold  their 
Gk)od8  in  England;  give  Order,  to  put  out  their  Stock  to 
Interest  in  England;  thinking  That  a  better  Advantage  than 
they  can  make  by  Trade. 

It  will  raise  the  Bent  of  some  Estates,  and  preserve  the 
Rent  of  others :  For  the  Farmer  must  make  up  hi«  Account, 
as  the  Merchant  doth;  the  Interest  of  the  Stock,  must  be 
reckoned,  as  well  as  the  Rent  of  Land:  Now  if  the  Farmer 
hath  3.00  I.  Stock,  upon  his  Farm,  that  is  so  easily  Rented, 
that  he  Lives  well  upon  it ;  he  may  add  9  I.  per  Annum  more 
to  the  Rent,  when  the  Interest  is  at  Three  per  Cent,  and  make 
the  same  Account  of  Profit  from  the  Farm :  As  he  doth  now 
Interest,  is  at  Six  per  Cent.     And  those  Farmers  that  are 

8«  hard  ||  Rented,  having  the  same  Stock,  will  have  9  I.  per  An- 
num Advance  in  the  Account,  towards  the  Easing  the  Rent: 
For  altho'  the  Farmer  gets  nothing  more  at  the  Years  end,  yet 
in  TTiftlring  up  of  Account,  there  must  9  I.  add  to  the  Value 
of  Land,  and  taken  from  the  Account  of  the  Stock.  If  Inter- 
est were  at  Three  per  Cent,  there  would  always  be  a  Magazine 
of  Com  and  Wooll  in  England,  which  would  be  a  great  Ad- 
vantage to  the  Farmer,  and  make  his  Rent  more  certain ;  for 
there  are  Years  of  Plenty,  and  Scarcity;  and  there  arc  more 
Farmers  undone  by  Years  of  great  Plenty,  than  Recover  them- 
selves in  Years  of  Scarcity;  for  when  the  Price  is  very  low, 
the  Crop  doth  not  pay  the  Charge  of  Sowing,  Farming,  and 
Carr3ring  to  Market;  and  when  it  is  Dear,  It  doth  not  fall  to 

87  all  Mens  For  ||  tune  that  were  losers  by  Plenty,  to  have  a  Crop : 
Now  if  Interest  were  at  Three  per  Cent.  Com  and  Wooll  in 
Years  of  great  Plenty,  would  be  Bought  and  Laid  up  to  be 
Sold  in  Years  of  Scarcity.  The  Buying  in  Years  of  Plenty, 
would  keep  the  Price  from  Falling  too  Low;  and  the  Selling 


A  Discourse  op  Trade  41 

in  Years  of  Scarcity,  would  prevent  it  from  Rising  too  High ; 
by  this  means,  a  moderate  Price,  being  best  upon  Com  and 
Wooll;  the  Farmers  Stock  and  Rent  of  the  Land,  would  be 
more  certain. 

But  now  Holland  being  the  great  Magazine  of  Com,  Man 
will  Lay  up  any  considerable  Quantity  in  England  at  Six  per 
Cent,  when  be  may  always  Buy  as  much  as  he  wants,  that 
was  Laid  up  at  Three  per  Cent,  and  may  bring  it  from  thence, 
as  Soon,  and  as  Cheap,  into  any  Parts  of  ||  England,  as  if  it  88 
were  Laid  up  here. 

Thirdly,  If  Interest  were  at  Three  per  Cent,  the  Land  of 
England,  would  be  worth  from  Thirty  Six,  to  Forty  Years 
Purchase ;  for  Interest,  sets  the  Price  in  the  Buying  and  Sell- 
ing of  Land. 

The  bringing  down  of  Interest,  will  not  alter  the  Value  of 
other  Wares;  for  the  Value  of  all  Wares,  arriveth  from  their 
Use;  and  the  Deamess  and  Cheapness  of  them,  from  their 
Plenty  and  Scarcity:  Nor  will  it  make  Mony  more  Scarce. 
For  if  the  Law  allow  no  more  Interest,  than  Three  per  Cent. 
they  that  Live  upon  it,  must  Lend  at  that  rate,  or  have  no 
Interest ;  for  they  cannot  put  it  forth  any  where  else  to  better 
Advantage.  But  if  it  be  supposed.  That  it  may  make  Mony 
scarce,  and  that  it  ||  may  be  a  Prejudice  to  the  Government,  89 
who  want  the  Advance  of  the  Mony ;  It  may  be  provided  for, 
by  a  Clause,  that  all  that  Lend  Mony  to  the  King,  shall  have 
6  I.  per  Cent.;  such  Advantage  would  make  all  Men  Lend  to 
the  Government:  And  the  King  will  save  two  per  Cent,  by 
such  a  Law. 

The  seeming  Prejudice  from  such  a  Law,  is,  It  will  lessen 
the  Revenue  of  those  who  live  upon  Interest :  But  this  will  not 
be  a  General  Prejudice;  for  many  of  those  Persons  have 
Land  as  well  as  Mony,  and  will  get  as  much  by  the  Rise  of 
one,  as  the  by  the  Fall  of  the  other.  Besides,  many  of  them, 
are  Persons  that  live  Thriftily,  and  much  within  the  Compass 
of  their  Estates;  and  therefore,  will  not  want  it,  but  in 
Opinion.  They  have  had  a  long  Time,  the  Advantage  of  ||  the  90 
Borrower ;  for  the  Land  yielding  but  4  I.  per  Cent,  and  the 


42  Nicholas  Babbon 

Interest  being  at  6  I  per  Cent,  a  new  Debt  is  every  Year  con- 
tracted of  2  I.  per  Cent,  more  than  the  Value  of  the  Debt  in 
Land  will  pay,  which  hath  Devoured  many  a  good  Farm ;  and 
eat  up  the  Estates  of  many  of  the  Ancient  Gentry  of  England. 
Moses,  that  Wise  Law-Giver,  who  designed,  that  the  Land, 
divided  amongst  the  Jews,  should  continue  in  their  Families ; 
forbid  the  Jews  to  pay  Interest,  well  knowing  that  the  Mer- 
chants of  Tyre,  who  were  to  be  their  near  Neighbours,  would, 
by  Lending  Mony  at  Interest,  at  last  get  their  Lands:  And 
that  this  seems  to  be  the  Reason,  is  plain ;  For  the  Jews  might 
take  Interest  of  Strangers,  but  not  pay;  for  by  taking  Inter- 
est, they  could  not  lose  their  Estates. 

91  The  Lawyers  have  invented  In  |1  tails,  to  preserve  Estates 
in  Families;  and  the  bringing  down  of  Interest  to  Three 
per  Cent,  will  much  help  to  continue  it;  because  the  Estates 
being  raised  to  double  the  Value,  will  require  double  the  Time, 
after  the  same  Proportion  of  Expence  to  Consume  it  in. 

The  raising  the  Value  of  Land,  at  this  Time,  seems  most 
necessary,  when  the  Nation  is  Engaged  in  such  a  Chargeable 
War :  For  the  Land  is  the  Fund  that  must  support  and  pre- 
serve the  Grovemment ;  and  the  Taxes  wiU  be  lesser  and  easier 
payd ;  for  they  will  not  be  so  great :  For  3  sh.  in  the  Pound, 
is  now  133^  Part  of  every  Mans  Estate  in  Land,  reckoning 
at  Twenty  Years  Purchase.  But  if  the  Value  of  the  Land  be 
doubled,  it  will  be  the  226  Part  of  the  Land,  which  may  be 

93  much  easier  bom.  || 

Campinella,  who  Wrote  an  100  years  since,  upon  consider- 
ing of  the  great  Tract  of  the  Land  of  France;  says.  That  if 
ever  it  were  United  under  one  Prince,  it  would  produce  so 
great  a  Revenue ;  It  might  give  Law  to  all  Europe.^ 

The  Effect  of  this  Calculation,  Is  since,  seen  by  the  Attempts 
of  this  present  King  of  France:  And  therefore,  since  England 

^■i  is  an  Island,  and  the  Number  of  Acres  cannot  be  Increased; 
It  seems  absolutely  necessary.  That  the  Value  of  them,  should 
be  raised  to  Defend  the  Nation  against  such  a  Powerful  Force : 
It  will  be  some  Recompence  to  the  Gentry,  whose  Lands  must 
bear  the  Burthen  of  the  War,  to  have  the  Value  of  their 


A  DiscouESE  OF  Trade  43 

Estates  Eaised;  which  is  the  Fund  and  Support  of  the  Gov- 
ernment ;  Is  a  great  Advantage  to  the  whole  Nation ;  and  if  s 
the  greater,  because  it  doth  not  Disturb,  Lessen,  nor  Alter 
the  Value  of  any  Thing  else. 


FINIS.  II  «. 


NOTES 

Mpage  5)  In  the  original  tract  the  pages  of  "The  Preface" 
and  "  The  Contents  "  are  unnumbered. 

'(page  6)  "England's  Treasure  by  Forralgn  Trade.  Or,  The 
Ballance  of  our  Forraign  Trade  Is  The  Rule  of  our  Treasure  " 
(London,  1664);  see  chapter  I  ('The  knowledge  and  qualities, 
which  are  required  to  be  in  a  perfect  Merchant  of  forraign  trade '). 

'(page  11)  IHd.,  chap.  II  ('The  means  to  enrich  the  Kingdom, 
and  to  encrease  our  Treasure  '). 

'(page  24)  "Corpus  scriptorum  historiae  Byzantinae.  Edito 
emendatior  et  copiosior,  consilio  B.  G.  Niebuhrii  C.  F.  Instituta 
auctoritate  Academiae  Litterarum  Regiae  Borussicae  Continuata, 
Pars  II:  Procopius "  (Bonnae,  1883);  see  I,  249-255  (De  Bello 
Persico)  and  II,  162  (De  Bello  Gotthico). 

"(page  24)  "  Ypodigma  Neustriae"  (ed.  by  Henry  Thomas 
Riley  in  Gt.  Brit.  Rolls  Chron.,  London,  1876) ;  cf.  p.  292  (A.  D. 
1349).  The  work  was  first  published  in  1574,  and  again  appeared, 
as  part  of  the  "  Anglica,  Normannica,  Hibemica,  Cambrica,  a 
Veteribus  scripta,"  of  William  Camden,  published  at  Frankfort 
in  1603. 

"(page  25)  Sir  Matthew  Hale  (1609-76)  "The  Primitive  Ori- 
gination of  Mankind,  considered  and  examined  according  to  the 
Light  of  Nature."  According  to  the  "  Dictionary  of  National 
Biography"  (XXIV,  22),  the  work  was  not  published  until  after 
Hale's  death. 

'(page  42)  "  Th.  Campenella  de  Monarchia  Hispania."  Editio 
novissima,  aucta  et  emendata  ut  praefatio  ad  lectorem  indicat 
(Amsterodami,  1653);    see  chap.  XXIV  (De  Gallia),  p.  187, 


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